France and Italy pursue for unpaid tax

According to a May 4 filing issued by Priceline Group to the US Securities and Exchange Program, French authorities “recently concluded an audit of that started in 2013 of the years 2003 through 2012”.

“In December 2015, the French tax authorities issued assessments for approximately 356 million Euros, the majority of which would represent penalties and interest.”

Priceline insists in the filing that is in compliance with French tax law and demonstrates and intention to contest the assessments made by France’s tax authority.

The company added: “In order to contest the assessments in court, [Priceline Group] may be required to pay, upfront, the full amount or a significant part of any such assessments, though any such payment would not constitute an admission by it that it owes the tax. French authorities may decide to also audit subsequent tax years, which could result in additional assessments.”

Italian tax authorities are also mentioned in the filing. Priceline notes: “Italian tax authorities have initiated a process to determine whether should be subject to additional tax obligations in Italy. Italian tax authorities may determine that the company owes additional taxes, and may also assess penalties and interest.”

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