Netflix pays $59 million to settle tax dispute in Italy
Netflix has agreed to pay more than $59 million to settle a tax dispute in Italy
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Netflix has agreed to pay more than 55.8 million euros ($59 million) to settle a tax dispute, Milan prosecutors said Friday.
The payment covers taxes, penalties and interest from October 2015 through 2019. The streaming service also established an Italian legal entity this year, which will determine its Italian tax burden based on subscriptions to Italian residents, prosecutors said.
Prosecutors in Milan said the investigation was triggered by the physical presence in Italy of technological infrastructure, including 350 servers, aimed at producing revenue.
Netflix welcomed the settlement that ends the case covering the tax years 2015 to 2019.
“We cooperated with the authorities throughout this investigation and, as we have always made clear, we acted in full compliance with Italian and international tax law,’’ Netflix said in a statement.
Netflix officially opened an office in Rome earlier this month with about 70 employees.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.