Google, or rather its parent company Alphabet $GOOGL (-2.28%) has reached an out-of-court settlement in a protracted tax dispute with Italy. A total of 326 million euros will flow into the Italian state coffers. 🤝
The agreement relates to a tax audit for the period from 2015 to 2019, in which Google was accused of evading tax payments in Italy via Ireland. Now that the coast is clear, the public prosecutor's office is requesting that the proceedings against the Irish subsidiary be dropped.
Will this boost Alphabet's share price, which is currently trading at USD 186.59, in the long term? 📈 Market participants seem optimistic, as the share price was up at times. But what do you think of such agreements? Is this a sign of transparency or rather a way of avoiding problems? Join the discussion!