MILAN -
Netflix has agreed to pay greater than 55.8 million euros ($59 million) to settle a tax dispute, Milan prosecutors stated Friday.
The cost covers taxes, penalties and curiosity from October 2015 by 2019. The streaming service additionally established an Italian authorized entity this yr, which can decide its Italian tax burden primarily based on subscriptions to Italian residents, prosecutors stated.
Prosecutors in Milan stated the investigation was triggered by the bodily presence in Italy of technological infrastructure, together with 350 servers, geared toward producing income.
Netflix welcomed the settlement that ends the case protecting the tax years 2015 to 2019.
“We cooperated with the authorities all through this investigation and, as we now have at all times made clear, we acted in full compliance with Italian and worldwide tax legislation,” Netflix stated in an announcement.
Netflix formally opened an workplace in Rome earlier this month with about 70 workers.
Post a Comment