MILAN : Italy expects to take until the end of the year for an initial assessment of Facebook parent Meta in a tax case that could land the U.S. company with a bill of around 870 million euros ($925 million) and prove a test case for the tech sector.Although a modest sum for a company that brought in more
MILAN : Italy expects to take until the end of the year for an initial assessment of Facebook parent Meta in a tax case that could land the U.S. company with a bill of around 870 million euros and prove a test case for the tech sector.
The audit, devised and carried out by Italy's Guardia di Finanza police, was passed on by the European Public Prosecutor's Office and a criminal investigation was opened earlier this year by Milan magistrates. Meta said it takes its tax obligations seriously, pays all tax required in the countries where it operates and will fully cooperate with the Italian authorities.
He added that the GdF approach would be successful if it established"a direct link between the provision of free membership to online platforms and the data that is harvested from users".
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