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"Google Tax" to help fix Italian Public Finances

Google's trademark name lights up the lobby to the company's offices in New York.

"Google Tax" to help fix Italian Public Finances

Italy's largest ruling party has proposed legislation to raise government revenues by making it more expensive for multinational online companies like Google, Amazon and Yahoo to do business there.

A bill tabled by the centre-left Democratic Party (PD) aims to raise at least 1 billion euros through a law, dubbed the "Google Tax", obliging companies that advertise and sell online in Italy to do so only through agencies with a tax presence in the country.

Reporting by Gavin Jones, REUTERS.