Google agrees to pay Italy $340 million to settle tax evasion investigation

Italian prosecutors on Wednesday said they are seeking to have a tax evasion investigation against Google dropped after the tech giant agreed to pay a 326 million euro ($340 million) settlement.

Milan prosecutors had opened an investigation against Google for failure to pay taxes on earnings in Italy from 2015-2019. The investigation focused on revenues from the sale of advertising, and cited the presence of servers and other infrastructure in Italy.

Google did not immediately respond to a request for comment.

Tech giant Google previously paid over $1 billion to French authorities to settle a years-long dispute over allegations of tax fraud.