Italian regulators are probing Facebook parent company Meta Platforms Inc. for alleged unpaid VAT taxes for a total of about €870 million ($927 million), according to Reuters.
Milan magistrates requested the probe to the European Public Prosecutor’s Office (EPPO), which asked the Guardia di Finanza police and the Italian Revenue Agency to check if there is a case for user registrations to be subject to tax.
Read more: Meta Completes VR Acquisition After Winning Antitrust Case
“We strongly disagree with the idea that providing access to online platforms to users should be charged with VAT,” a Meta spokesperson said in an emailed statement to Reuters.
Italy’s tax police and revenue agency calculated a model under which Meta would have had to pay around 220 million euros of sales tax in Italy in 2021, according to the sources.
Featured News
TikTok and ByteDance File Lawsuit Against US Law Mandating App Sale
May 7, 2024 by
CPI
Apollo, Sony Bid to Acquire Paramount Faces Regulatory Hurdles
May 7, 2024 by
CPI
Turkey Fines Meta $10.4 Million for Abusing Market Dominance
May 6, 2024 by
CPI
Canadian Watchdog Launches Inquiry into Lululemon’s Greenwashing Practices
May 6, 2024 by
CPI
Massachusetts Supreme Court Deliberates On Ballot Redefining Gig Worker Status
May 6, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI