- Italy is seeking hundreds of millions of euros in VAT from internet companies Meta, X, and LinkedIn, asserting that these companies owe taxes for transactions involving user data as payment for account creation.
- The Italian tax authorities have formally presented their claims, with Meta facing a demand of 887.6 million euros, X (formerly Twitter) being billed 12.5 million euros, and LinkedIn, a Microsoft subsidiary, owing 140 million euros.
- The tax claims pertain to the periods from 2015 to 2016 and 2021 to 2022, and the outcome of this case could significantly impact similar regulations across the European Union.
Source Taxlive
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