Robert Besser
28 Nov 2021, 03:43 GMT+10
DUBLIN, Ireland: Google Ireland has reached agreement with Irish tax officials to pay over $245 million in unpaid corporation taxes to settle what has been termed unspecified "tax matters" from past years.
The amount paid to Ireland includes interest payments on the tax, according to Google Ireland Limited. The $245 million payment was believed to have been paid to the exchequer in October.
However, in Google's latest statement, it listed the Irish tax payment as "adjustments for corporation tax of prior periods" of almost $245 million.
Further, the most recent exchequer revenues show corporation taxes brought in almost $1.7bn in October to Ireland, which was $1bn more than anticipated.
October's corporation tax collection was increased by the payments of tax cases that accounted for $340m, the Department of Finance reported.
Google Ireland Limited is responsible for all revenues generated by Google in Europe, the Middle East and Africa from ad revenues from its search engine and from YouTube.
Google also has two data centers in Ireland that employ some 4,315 people.
Google Ireland's reported turnover increased to $54bn in 2020, from $50bn in 2019.
Pre-tax profits rose to over $3.2bn, up from $2.19bn in 2019, and Google paid a total corporation tax bill of $703m.
Get a daily dose of Middle East Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Middle East Star.
More InformationBANGKOK, Thailand: Instant noodle makers have asked Thailand to allow them to increase their prices to meet rising costs, which ...
JEDDAH, Saudi Arabia: In a Twitter post published this week, Saudi Arabia's Kingdom Holding said it had invested in Russian ...
DELHI, India: Dubbed the country's Warren Buffett, India's best-known stock investor and self-made billionaire, Rakesh Jhunjhunwala, died on August 14 ...
SAO PAULO, Brazil: Brazil's central bank chief Roberto Campos Neto has said that he believes credit cards will cease to ...
LONDON, England: Despite a recent rebound, speculators in the international copper market, considered an indicator of the world's economic health, ...
MOSCOW, Russia: Financial information released by the Rosstat federal statistics service this week indicated that Russia's economy shrank 4 percent ...
NEW DELHI, India: During his national day address this week, Prime Minister NarendraModi said India will seek to become a ...
LONDON, England: The cap on flight departures from London's Heathrow Airport will beextended until October 29, airport officials announced.Heathrow capped ...
BERLIN, Germany: Highlighting Berlin's increasing focus on assisting in the Indo-Pacific region amidst rising tensions with China over Taiwan, Germany ...
PARIS, France: French firefighters have stopped the spread of a "monster" wildfire in the country's southwest, allowing the reopening of ...
As China unleashed live-fire military exercises off the coast of Taiwan, simulating a real "reunification by force" operation in the ...
NAYPYIDAW, Myanmar - According to a legal official, a court in Myanmar has sentenced former leader Aung San Suu Kyi ...