Thursday, December 31, 2015

Tax authorities, after Apple’s up to Google: get check from 150 million. Amazon in the viewfinder – The Republic

MILAN – If you come all the money that the Milan prosecutors hopes, you could almost speak of a budget adjustment. But the situation at present is only hypothetical. After the 318 million euro – these safe and cashed as announced yesterday by Republic – that the Cupertino giant Apple, has paid to the Revenue Office two days ago to close a litigation IRES processed from 880 million in the sights of the department on economic crimes of Milan, now end up other software giants. Starting from Google and another investigation coordinated by the deputy prosecutor Francesco Greek and entrusted this time to the prosecutor Isidoro Palma. Unless last-minute surprises, the long game that you are playing for almost a year between the two parties, could be completed by the end of January, with a “booty” finish that would be around – if accordo- , around 150 million euro. None of the parties at the time, intended to anticipate the success of the negotiation.

Unlike the company that manufactures the iPad and iPhone that has accepted in full the figures that emerged from reports drawn dall’Entrate and not contesting the final figure, with Google the parties would still far apart on the final sum to be paid, however, very different from what you shelled out two days ago by the company founded by Steve Jobs. Again, the prosecutors in Milan allege that the Italian branch of the search engine in California, that he had placed on a foreign company, to pay less tax in Italy. The total amount on which managers are alleged to have evaded taxes in this case rises to a billion euro total.

In the outcome of negotiations with the Treasury, yesterday the Financial Times has raised the possibility of a role had also the prime minister, Matteo Renzi. The head of Apple, Tim Cook, last November, after a lecture at Bocconi University, met the Prime Minister at a lunch in a famous restaurant in Milan. In this condition – according to their advances raise yesterday by the British newspaper – Renzi would have chased Cook asking to close the fiscal slope of its subsidiary in Italy.

An earlier not just to Apple, saw their disputes that other EU countries have with the Cupertino giant. In the agreement it signed 48 hours ago and already executive – the staggering figure is actually available in the Treasury – the multinational definitively regulates the position in Italy and Ireland, thus avoiding any future disputes. It is not excluded, that on the Italian example, shut down the other slope.

The case Apple could be a disincentive for other corporations that, right through the “esterovestizioni” of their company, rely on tax havens or even on countries with a more advantageous taxation than in Italy. It ‘just arrived in the prosecution report Revenue, regarding Amazon – giant e-commerce – at the time against unknown and no offense and involving Western Digital, another company specializing in stars and stripes hard disk. But on the desks of prosecutors of the department on financial crimes, they remain standing even major investigations, with the possibility of tax fraud as pivotal. And ‘the case of the insurance policies of Credit Suisse, with hundreds of customers – this is the suspicion of the Milan prosecutors that does not involve, however, officials of the institute – which through a ploy purely formal, they moved into the coffers overseas, hundreds of thousands of euro. Another delicate issue, which in this case works or even the Bank of Italy, that could end again with six-figure compensation.

The success of the negotiations with Apple, to tell the truth is not an isolated case. At the end of 2014, it had been the Prada group to close a tax dispute with the Milan prosecutors, pouring the Exchequer more than 450 million Euros. Exactly – like Apple – the challenge to the verification activities. A Maurizio Bertelli and Miuccia Prada, the top of the label, is challenged in this case a esterovestizione in Holland, the “Prada Holding”. And if the criminal investigation is still pending, the administrative litigation has ended, not only with the immediate refund, but also with the return in Italy of the official seat of the Milan fashion house.

The prosecutor’s office Milan, officially, does not comment on the financial results obtained with transactions already defined with the Revenue. Although the fourth floor of the courthouse is stressed “the important signal” represented by the conclusion of the tax dispute with Apple.

Finally, on the political front, the end of the chapter Apple, rejoices the President of the Commission House Budget, Francesco Boccia (Pd). “The financial haemorrhage related tax evasion and avoidance of multinational web – commented the news Petanque – has reached very high levels and in October, albeit still resulting in isolated cases, have started to realize that the taxes you have to pay ; and it must be done in the countries in which they profit. ” Boccia, concludes by calling “wise” decision to find an agreement with the IRS by the US giant.

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