NetflixNetflix to settle a tax dispute with Italy for...

Netflix to settle a tax dispute with Italy for $59.1 million


[Sassy_Social_Share title=”Sharing is Caring”]

Milan’s prosecutors released a statement stating that they had settled with a multinational video-on-demand streaming company covering from Oct. 2015 to 2019. They asked for EUR 55.8 million (roughly Rs. 460 crores).

The parties did not disclose the settlement amount, but three people knowing the matter confirmed that it was Netflix.

Netflixspokesperson stated that the company was happy to resolve the matter.
The spokesperson stated that they had maintained constant communication and cooperated with the Italian authorities. He also said they believe that the actions taken complied with international and Italian rules.
Three years ago, the Prosecutors opened an investigation into possible tax evasion.
They said Netflix should have paid taxes to Italy as it relied upon digital infrastructure to stream content for 2 million Italian users.

Netflix opened an office in Italy as a backdrop for the payment agreement. It has a base in Rome, and more than 40 employees have been hired.
Milan’s Tax Police had initiated the investigation that led to Milan prosecutors arguing that Netflix cables and computer servers were a physical presence in Italy.
In the past, Milan prosecutors have investigated other US tech giants like Apple, Amazon, and Facebook for tax dodging. This has allowed Italy to make several billion euros in fines and tax payments.

fatima khan
fatima khan
A brand new writer in the fields, Fatima has been taken under my electric spark's RGB- rich and ensures she doesn't engage in excessive snark on the website. It's unclear what command and Conquer are; however, she can talk for hours about the odd rhythm games, hardware, product reviews, and MMOs that were popular in the 2000s. Fatima has been creating various announcements, previews, and other content while here, but particularly enjoys writing regarding Products' latest news in the market she's currently addicted to. She is likely talking to an additional blogger with her current obsession right now.


Please enter your comment!
Please enter your name here

Latest news

About Tech

You might also likeRELATED
Recommended to you