Amazon to settle Italian tax dispute for $118M

Amazon on Friday said it agreed to pay $118 million to settle a tax dispute with Italian tax authorities.

Amazon CEO Jeff Bezos talks about the Kindle products in Santa Monica, Calif., on September 6, 2012. On Friday, the company agreed to settle a $118 million tax bill in Italy. File Photo by Phil McCarten/UPI | License Photo
Amazon CEO Jeff Bezos talks about the Kindle products in Santa Monica, Calif., on September 6, 2012. On Friday, the company agreed to settle a $118 million tax bill in Italy. File Photo by Phil McCarten/UPI | License Photo

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.

By Danielle Haynes