Italy Investigates Procter & Gamble For Alleged Tax Evasion

Procter & Gamble Co. is the subject of a probe by Italian authorities seeking to determine whether the company used its business units in Switzerland and other countries to avoid paying taxes in Italy. P&G joins a list of American companies, including Apple Inc., Google Inc., and Amazon.com Inc., that have been investigated by European Union or EU member countries’ tax authorities concerning how they transmit revenues through the continent. According to unnamed sources, Italy’s finance police began searching P&G offices in Rome in April 2016.