Netflix to pay Italy $59 million in back taxes

Robert Besser
24 May 2022, 17:21 GMT+10

Netflix and Italy have agreed to a $59 million settlement to to settle a four-year tax dispute, Milan prosecutors have announced.
At issue were payments for taxes, penalties and interest from October 2015 through 2019.
This month, Netflix opened an office in Rome with some 70 employees.

MILAN, Italy: Netflix and Italy have agreed to a $59 million settlement to to settle a four-year tax dispute, Milan prosecutors have announced.

At issue were payments for taxes, penalties and interest from October 2015 through 2019.

Netflix also agreed to establish procedures to calculate taxes in Italy based upon the number of subscribers to the streaming service.

Prosecutors in Italy said the investigation followed information that Netflix had developed a physical presence in Italy, including 350 servers, aimed at producing revenue that was not declared or taxed.

Meanwhile, Netflix officials praised the settlement that resolves the claims 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.

This month, Netflix opened an office in Rome with some 70 employees.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Rio De Janeiro Sun.

More Information

21 ℃

Fair in Rio De Janeiro/Dumont

South America

Section

4 Colombian Children Found Alive in Jungle Weeks After Plane Crash

BOGOTA, COLOMBIA - Four children from an Indigenous community in Colombia were found alive in the country's south Friday more ...

India tops world ranking in digital payments, records 89.5 million transactions in 2022: MyGovIndia

New Delhi [India], June 10 (ANI): India with 89.5 million digital transactions in the year 2022 has topped the list ...

Bolivia gets closer to China, but trading in Yuan 'doubtful': Report

Cochabamba [Bolivia], June 10 (ANI): Discussions are underway for the opening of Chinese banks in Bolivia but there are serious ...

Abu Dhabi Grand Slam Jiu-Jitsu Tour kicks off in Rio de Janeiro

Rio De Janeiro [Brazil], June 10 (ANI/WAM): Friday marked the start of the Abu Dhabi Grand Slam Jiu-Jitsu World Tour ...

UN Weekly Roundup: June 3-9, 2023

united nations - Editor's note: Here is a fast take on what the international community has been up to this ...

Kiev's reluctance to probe dam collapse unsurprising Moscow

The Russian Foreign Ministry spokeswoman says Ukraine's objections to an international probe fit a pattern of stonewallingRussian Foreign Ministry spokeswoman ...

International

Section