Amazon to settle Italian tax dispute for $118M

Dec. 15 (UPI) — Amazon on Friday said it agreed to pay $118 million to settle a tax dispute with Italian tax authorities.

Italian officials had been investigating whether the online retailer evaded paying taxes between 2011 and 2015. The settlement closes the probe, Italy’s Revenue Agency told Bloomberg in a statement.

Tax authorities in May said Amazon hadn’t paid up to $150 million in taxes.

This isn’t the first time a U.S. technology company has come under scrutiny for its tax practices in Italy. In May, Google agreed to pay $334 million in back taxes owed between 2002 and 2015 and earlier this week, Facebook said it would start paying taxes there.