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Visa Europe pays USD 15 million to settle Italy tax dispute

Monday 28 January 2019 | 11:01 AM CET

Visa Europe has paid USD 15 million to settle a dispute in Italy over alleged tax evasion, a judicial document filed by Milan prosecutors showed, according to Reuters.

Italian prosecutors found that the allegations against Visa Europe Service revolved around transfer pricing and that no crime was committed, the document, which was filed with a Milan judge on December 18 showed.

The investigation, which was opened in early 2017, claimed that the European arm of US credit card group had evaded taxes on revenues from 2009 to 2015 for a total of EUR 9.6 million. Visa did not respond to Reuters’ requests to comment.

In recent years, US tech giants, including Google, Amazon and Facebook, have paid more than EUR 800 million to settle tax disputes in Italy, Reuters added.

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