Netflix Accused in British Think Tank Report of Funneling $430 Million Into Tax Havens
Written by SOURCE on January 15, 2020
Netflix is alleged to have funneled as much as $430 million in international profits into “tax havens.”
That’s the assessment put forth in a report from the British group Tax Watch, Deadline informed readers on Wednesday.
“In total, we estimate that the company moved between $327.8m to $430m in profits to low tax jurisdictions from its international operations. Netflix also presents another issue particular to the film and television world, which is the way in which it is able to attract tax credits,” the Tax Watch report states. “The company is now ramping up production of original content in the UK, and it is likely that this will attract substantial subsidies from the UK taxpayer.”
