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by Tiziana Di Giovannandrea November 27, 2019Taxes paid to the Italian tax authorities for 64 million euros in 2018, up from 59 million in 2017 while for sanctions 39 million were paid (down from 73 in 2017).A lot the money that the web giants - it is 25 groups with over 8 billion turnover worldwide - paid to the Italian tax authorities during 2018.
The 25 giants of WebSoft (Software & Web Companies) have 14 operational headquarters in the US, 7 in China, 2 in Japan and 2 in Europe (both in Germany). In Italy many web giants are present with their respective branches, almost all located in the provinces of Milan and Monza-Brianza; with the exception of Bonprix, part of the German group Otto, which is based in Biella, and of Booking, which is based in Rome.
Among the internet giants, among others, the 6.2 million euros paid to the Italian tax authorities by Amazon, the 16.5 million by Microsoft, the 4.7 million by Google, the 3.2 million by Oracle, the 5.1 million from Booking.com, 1.7 million from Facebook, 153 thousand euros from Uber and 20 thousand euros from Alibaba.
This is highlighted by a research by Mediobanca's Research Area which explains how, according to the financial statements, in 2018 the Italian branches of these companies saw an aggregate turnover exceeding 2.4 billion (equal to 0.3% of their worldwide revenues ) and an average tax rate (average tax rate ) of 33.1%, excluding companies at a loss.
Employment is growing: the number of people working in groups such as Amazon, Facebook, Google and others has increased by 1770 employees in 2018, to reach a total of 9800 workers. Most of the employees were hired for the most part by the Amazon Group companies, which boast the highest number of employees in Italy of 4,608.
The aggregate has a high financial stability with a tangible net capital four times greater than the financial debts and a low liquidity (4.5% of the total assets), in line with the typical characteristics of each branch of a large foreign group; the Italian branches of Amazon, Microsoft, Booking and SAP transfer part of their liquidity to the related parent companies that centrally manage the treasury of the group.
At a global level, looking at the relationship between the 25 WebSoft analyzed by Mediobanca and the tax authorities, about half of the profit of these groups is taxed in tax- exempt countries , with consequent cumulative tax savings of over 49 billion in 2014-2018.
The effective tax rate ( effective tax rate) of the WebSoft multinationals is 14.1%, below the nominal 22.5%.
In the 2014-2018 period, taxation in tax-exempt countries has led to a cumulative tax saving of nearly 25 billion for Apple; the iPhone manufacturer in Italy reported revenues of around 500 million, a net profit before taxes of 44.3 million and paid taxes of 12.4 million, with a tax rate of 28.1%.