Current Events > Netflix Accused Of Funnelling $430M Of International Profits Into Tax Havens

(+) Yeah! (+)

https://deadline.com/2020/01/netflix-accused-funnelling-international-profits-into-tax-havens-1202831130/

Netflix has been accused of funneling as much as $430M of its international profits into tax havens, while at the same time receiving more than $1M in tax relief in the UK.
A report by British think-tank Tax Watch said that, like other major tech companies including Google and Amazon, there is little doubt that Netflix has structured itself to avoid paying tax. In a report, Tax Watch estimated that between $327.8M and $430M of profit from outside the U.S. was moved to low tax jurisdictions, such as the Netherlands, where Netflix operates a complex web of companies. The think-tank examined Netflixs operations in the UK to highlight how the company could be structured to lower its tax bill. Netflixs British company Netflix Services UK provides services to Netherlands-based Netflix International, which collects revenue from UK subscribers.

Netflix Services UKs revenue was just 48M ($53M) in 2018, while its profit stood at 2.3M. In reality, Netflixs UK footprint is far larger, with Tax Watch estimating that revenue from its 10M British subscribers is likely to be worth 860M, or $1.1BN.

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Good.

Keep on profiting, Netflix.

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Is this legal?
If so, then fuck off. Maybe make it not be legal next time.