Corporate problem keeps executives on edge Netflixbecause heThe streaming giant’s offices in Paris and Amsterdam have been raided by French and Dutch authorities as part of a tax fraud investigation, according to French judicial sources.
Officials from the two countries have been cooperating on the case since the investigation opened in November 2022.
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The Amsterdam office is the company’s headquarters for Europe, the Middle East and Africa.
The investigation in France is being carried out by the National Financial Prosecutor’s Office (PNF), a special unit used to investigate high-profile white-collar crimes.
According to the PNF, these are suspicions of “concealing serious tax fraud and extracurricular activities.”
The company is also under investigation for its 2019, 2020 and 2021 tax returns.
French sources said Dutch authorities carried out searches at the same time and that cooperation between the two countries had been going on for “many months.”
How to understand the problem Netflix is facing
Last year, French media outlet La Lettre reported that Netflix in France was minimizing its tax payments until 2021 by declaring income earned in France in the Netherlands.
Since leaving that agreement, its reported annual turnover in France has increased from 47.1 million euros ($51.3 million) in 2020 to 1.2 billion euros in 2021, La Lettre said.
Via: AFP
Source: Digital Trends
I am Garth Carter and I work at Gadget Onus. I have specialized in writing for the Hot News section, focusing on topics that are trending and highly relevant to readers. My passion is to present news stories accurately, in an engaging manner that captures the attention of my audience.
