Google’s Irish branch closes € 345million settlement with Revenue

GOOGLE Ireland reached a settlement of € 345.2 million with the Revenue Commissioners, but still managed to pay its parent company a dividend of € 3 billion in 2021.

he internet giant has revealed payments on newly filed accounts for the Irish branch of the US group.

The settlement with Revenue relates to corporation tax, the company notes in the 12-month accounts ended last year.

“After the end of the year, the company has accepted the resolution of certain tax matters relating to previous years,” the accounts indicate. “This tax payable and the associated interest are recognized in the current financial year. “

Of the settlement, € 218.1 million related to historic corporate tax adjustments, while the company also paid € 127.2 million in associated interest to Revenue Commissioners.

Google Ireland’s total tax burden for 2020 was € 622.3 million, the accounts note, up from € 263.3 million in 2019.

Google Ireland is a wholly owned subsidiary of Google Europe, Middle East and Africa Unlimited, whose ultimate parent company is Alphabet.

Google Ireland, which operates two data centers in Dublin, is also responsible for providing most of Google’s consumer services to users in the European Economic Area and Switzerland.

It generates its income from serving advertisements on platforms owned by Google, including its search engine and the applications it owns, such as YouTube. Google Ireland employs over 4,300 people.

Google Ireland’s turnover increased last year from 45 billion euros to 48.4 billion euros.

“This increase is mainly due to an increase in advertising revenue generated by Google properties and properties of members of the Google network,” note the accounts.

It made a pre-tax profit of € 2.8m last year, compared to € 1.9bn in 2019.

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