Google hit with $1.3 billion tax assessment from French authorities

Google said it has been hit with a tax assessment from French authorities that could cost between $693 million and $1.3 billion, according to Forbes.In a Securities and Exchange Commission filing, Google Inc. maintains that it has paid the taxes it owes, and expects to appeal the assessment. It is unclear, however, how successful such an appeal would be. see:Great Google-y Moogly: Internet Giant Slapped With Huge Tax Bill
For years, multinational companies like Google, Apple and Microsoft have been thwarting attempts by government authorities abroad to plow through complicated tax structures and pin down profits for purposes of determining corporate tax liabilities. In 2011, French tax authorities gave those companies pause when it raided the Paris office of one of the world’s most visible and profitable companies: Google.Claiming “presumption of fraud,” French revenue officers visited Google’s Paris headquarters in an effort to determine whether the company’s tax maneuvers were appropriate. Google got their answer last month when they were slapped with a reportedly massive tax assessment. The company disclosed the existence of the assessment last week in a filing made with the Securities and Exchange Commission but did not reveal a dollar (or, perhaps more accurately, Euro) figure.

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