After French inquiry, Google will pay $550 million for avoided taxes.

After French inquiry, Google will pay $550 million for avoided taxes.

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After French inquiry, Google will pay $550 million for avoided taxes.    

Google has agreed to pay a fine of almost $550 million to settle an inquiry into its tax procedures in France, reports Reuters.

The European office of the company is located in Dublin, Ireland, and it advantages from working in the nation like other businesses. French authorities had been investigating whether Google was unable to report all of its taxable job in France.

A Google spokesman said the company will also pay € 465 million (about $515,000) in other tax payments, along with the € 500 million payment.

“We in France have now resolved tax and associated conflicts that have persisted for many years,” a spokesman for Google said in a declaration. “The settlements include a payment of € 500 million which was ordered by a French court today, as well as € 465 million in extra taxes which we agreed to pay and which were significantly reflected in our previous economic outcomes. We continue to think that coordinated reform of the international tax scheme is the best way to provide a clear framework for businesses operating around the globe. “The fine is low for a income giant like Google, although it follows another recent U.S. Federal Trade Commission fine.

The FTC announced earlier this month that Google would be penalized for $170 million in claims that YouTube breached digital privacy legislation for children.

The European Union, however, is viewed as taking the most aggressive legislative position against the tech sector. In specific, over the summer, France enacted a law that directly increased tax payments on internet platforms. The law, which would hit significant corporations like Facebook and Google, rapidly caused criticism from U.S. commercial authorities.

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