Netflix settles tax dispute News

The topic of Internet companies and taxation is a topic that is often hotly debated in politics and the public sphere. Netflix is ​​also part of the debate. The streaming services pioneer can now be successful in Italy.

Tax evasion is a complaint that several US internet companies have struggled with for years. Netflix also struggles with this. In Italy, this objection does not come into play.

As reported by several people familiar with the situation, the legal dispute between the American streaming service and the prosecutor’s office in Milan was settled for a million dollar payment. You were talking about almost EUR 56 million. The prosecution did not provide the name of the company, but the documents show that Netflix is ​​involved.

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The prosecutor’s office in Milan launched an investigation into tax evasion three years ago. They covered the period from October 2015 to 2019. Netflix has to pay taxes in Italy, according to investigators, as it uses digital infrastructure there. Netflix said they are glad the case is over.

Netflix shares are stabilizing

Netflix shares have been in a downtrend since the end of 2021 and have declined by around 70 percent since then. The share stabilized just above the multi-year low of around € 160. MACD (Momentum) is also growing, supporting the current recovery. However, the chart’s technical situation only permanently improves when the resistance is at $ 246.

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