The United States Giant Google has agreed on paying a sum of EUR 945 million ($1 billion) to put an end to a tax dispute in France after getting an agreement from the court this Thursday. The company will be paying a sum of EUR 500 million for the tax evasion and after the EUR 645 million for the settlement claims with the French Tax Authorities.
A settlement from Google confirmed that the company wants to put an end to the difference it has with the authorities in France for the past several years. The settlement is an out of court agreement which is similar to Italy and Britain which google settle in recent years. Although the agreement this time is much larger as compared to the previous ones.
Now Google wants to make sure that it properly coordinate with the reforms of the international tax system to avoid any future issues. This definitive settlement is welcomed by the French Justice Minister Nicole Belloubet and Budget Minister Gerald Darmanin. The settlement was a result of hard work of authorities of France for more than two years.
The outcome will surely be good news for the public finances and promotes fairness in France. It also shows that French authorities have the tools at their disposal which will provide an equitable tax system.
This settlement will be remembered in history for the public finances and also marks the end of the era. After dealing with the Google situation will surely provide relief to people who asked for fairness.
The Frech President Emmanuel Macron said that he and American President Trump has come to an agreement on the taxation system but the details needed to be worked out. S The international tax system needs to be discussed among the 134 countries.
