Italy Concludes Investigation into Meta Executives for Alleged $938M VAT Evasion

• Italian prosecutors conclude investigation into tax evasion allegations against two Meta executives
• The case involves 887.6 million euros in unpaid VAT by Facebook’s parent company Meta
• The investigation is a precursor to potential trial requests unless the executives prove their innocence
• Meta claims to have fulfilled all tax obligations and is cooperating with Italian authorities
• The dispute centers on whether user registrations on Meta platforms should be taxable transactions
• Italy’s Revenue Agency supports police findings that Meta owes nearly 4 billion euros in undeclared taxable income from 2015 to 2021
• Meta has 60 days to respond to the tax authority’s findings and may face a judicial tax dispute
• Meta disagrees with the VAT charge on access to online platforms
• The Italian Revenue Agency has sought advice from the European Commission’s VAT Committee on the matter

Source: reuters.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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