Meta Platforms, according to Italy, should pay 870 million euros in unpaid VAT from 2015 to 2021. It is the axiom, that is, that free subscriptions to online platforms should be taxed as commercial transactions in exchange for the transfer of one’s personal data, which have an economic value, given that they can be profiled. Considering this user-company data “exchange” as an exchange of different goods, and therefore subject to VAT, is the crucial point which according to experts could lead to an epochal change in the tech sector, which would not only concern Meta, but all similar companies, and it would not only concern Italy, but, at least, all of Europe, given that VAT is a harmonized European tax.
Source: breakinglatest.news
