(Reuters) - Italian authorities are investigating whether Procter & Gamble Co (PG.N) 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. (bloom.bg/29irgat)
Italy’s finance police in April started searching P&G’s offices in Rome, the report said, citing the people.
“We are cooperating fully with the authorities in this particular case and do not have further information to share at this time,” P&G spokeswoman Jennifer Corso said in an email to Reuters.
A small team of European Union officials is leading an investigation that could force some of the world’s biggest companies, including Apple Inc (AAPL.O) and Amazon.com Inc (AMZN.O), to pay billions of euros in avoided taxes.
Reporting by Subrat Patnaik and Sruthi Ramakrishnan in Bengaluru; Editing by Saumyadeb Chakrabarty and Maju Samuel