Google said on Thursday that it has agreed to pay almost €1bn to settle all of its litigation with the French tax authorities in a “historic” agreement.

The deal includes a €500m fine to bring to an end an investigation by the National Finance Ministry and a $465m tax adjustment.

“This agreement is historic, both for our public finances and because it marks the end of an era,” Gérald Darmanin, France’s minister of public accounts and action, said in a statement.

The settlement marks the end of a four-year investigation that looked at whether Google routed profits from its French activities to Ireland, which is a lower-tax jurisdiction.

Google was not immediately available for comment. A spokesperson for the tech group told AFP: “We remain convinced that a co-ordinated reform of the international tax system is the best way to provide a clear framework for companies operating around the world.”

Via Financial Times

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