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P&G being investigated by Italian authorities : Bloomberg

Published 07/06/2016, 02:51 PM
Updated 07/06/2016, 03:00 PM
© Reuters. The logo of Dow Jones Industrial Average stock market index listed company Procter & Gamble (PG) is seen on a tube of toothpaste in Los Angeles

(Reuters) - Italian authorities are investigating whether Procter & Gamble Co (N:PG) routed revenue through its Swiss and other units to avoid paying taxes in the country, Bloomberg reported.

The investigation is looking into whether P&G used units such as Geneva-based Procter & Gamble International Operations SA for the purpose, Bloomberg reported, citing two people familiar with the probe. (http://bloom.bg/29irgat)

Italy's finance police in April started searching P&G's offices in Rome, the report said, citing the people.

P&G was not immediately available for comment.

A small team of European Union officials is leading an investigation that could force some of the world's biggest companies, including Apple Inc (O:AAPL) and Amazon.com Inc (O:AMZN), to pay billions of euros in avoided taxes.

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