Google Ireland agrees €218m tax settlement with Revenue

google ireland agrees 218m tax settlement with revenue

Sumary of Google Ireland agrees €218m tax settlement with Revenue:

  • Tech giant Google Ireland agreed a €218 million tax settlement with Revenue this year, according to documents just filed.
  • This formed part of its total corporate tax bill of €622 million, which is detailed in its 2020 financial accounts.
  • The accounts also show the company’s wage bill exceed €500 million for the first time in 2020 with employees paid just more than €120,000 on average in 2020. According to the accounts, Google Ireland Ltd recorded turnover of €48.4 billion in 2020, up €2.7 billion versus the €45.7 billion of a year earlier.
  • Its pretax profit totalled €2.85 billion, compared to €1.94 billion in 2019. The company paid a tax charge of €622.3 million in 2020 with €2.23 billion credited to reserves.
  • A note included in the accounts notes the tax settlement: “Subsequent to year-end, the company agreed to the resolution of certain tax matters relating to prior years.
  • During 2021, Google paid interim dividends of €3billion to its immediate parent.

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