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Google paying A$481.5M to settle tax dispute in Australia

Google LLC agreed to make a settlement payment of about A$481.5 million to settle a tax dispute with the Australian Taxation Office.

The amount is on top of the Alphabet Inc. unit's earlier tax payments, the ATO said in a statement.

The settlement comes from an audit that examined Google's tax practices between 2008 and 2018, Reuters reported, citing a Google spokeswoman.

The recent payment from Google brings the Australian regulator's collected tax payments to about A$1.25 billion cash, including tax payments from other companies, including from Microsoft Corp., Apple Inc. and Facebook Inc.