Italy’s Drive on Corporate Back Taxes Reaps $2.6 Billion
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Italy’s claim that Fiat Chrysler Automobiles NV underestimated the value of its U.S. business is just the latest installment in the country’s campaign to reap billions of euros in unpaid taxes from multinational corporations.
In the last four years Italy has raised 2.3 billion euros ($2.6 billion) in settlements from companies including technology giants Google, Amazon.com, Facebook Inc, and Kering SA, the owner of luxury brand Gucci.