Recent tax probe in Italy gives one more reason to be cautious with P&G
On Wednesday, Bloomberg published an article titled “P&G Is Under Investigation in Italian Tax Probe.” In it, the world’s largest consumer-products maker is being investigated for routing revenue through Swiss and other units to avoid paying taxes in the country. Joining the likes of Apple (NASDAQ:AAPL), Google (NASDAQ:GOOG) and Amazon (NASDAQ:AMZN), P&G(NYSE:PG) would, if guilty, probably need to pay a little bit more than what Google had paid. According to the article, Google was allegedly underpaying taxes totaling $277 million from 2009 and 2013, representing some 20% of Italy’s sales.
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