Amazon has agreed to pay the Italian tax man 100 million euros ($118 million) to settle a dispute over suspected tax fraud, the Italian revenue service said Friday. Italy has previously forced other US internet giants to pay up for taxes owed, including Apple, which in December 2015 agreed to pay 300 million euros to end a tax fraud investigation. Last May, Google agreed to pay 306 million euros. The tax authorities said Friday that they would now seek “preventative agreements” with Amazon to ensure that the company properly pays its taxes on Italian earnings. In a statement, Amazon also said that it had invested more than $800 million in Italy since 2010 “and created over 3,000 jobs”.

Source: Punch December 15, 2017 16:41 UTC