Italy seizes $836 million from Airbnb for alleged tax evasion

Italy seizes $836 million from Airbnb for alleged tax evasion

Last updated 8 month ago

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Italy seizes $836 million from Airbnb for alleged tax evasion



What just befell? Italian police have seized over €779 million (around $836 million) from Airbnb over unpaid taxes. The seizure came after prosecutors in Milan accused the home-sharing organisation of failing to pay a 21 percent withholding tax on €3.7 billion ($3.Ninety five billion) in condo revenue.

Landlords in Italy are required via regulation to pay a 21 percentage tax on their condo income, and the duty of amassing that tax lies with apartment carriers like Airbnb. According to the regulation, it turned into up to Airbnb to withhold the tax quantity from the condo profits of landlords and pay it to the government. The prosecutors allege that the corporation did not try this, thereby violating Italian law and necessitating police motion.

In a statement released to the BBC following the seizure, Airbnb stated it turned into "amazed and disillusioned" with the police movement, and stated that it's been having dialogues with the Italian tax authorities for months over the problem. The company additionally claimed that it had usually complied with EU laws, and brought that it intends to preserve combating the case in courtroom.

The Italian law that calls for domestic-sharing organizations and condo providers to withhold the 21 percent tax from landlords dates lower back to 2017. Airbnb challenged the law thru the Court of Justice of the European Union final 12 months, however its strive proved unsuccessful. In its judgment, the court ruled that EU member states are well within their rights to require condominium platforms to gather taxes on behalf of the government, and that Airbnb have to observe Italian legal guidelines if it has to do business in Italy.

Alongside Airbnb, some of different American tech businesses, consisting of Facebook's determine agency Meta and streaming large Netflix, are also beneath investigation by Italian authorities. While Netflix was ordered to pay €fifty five.8 million (round $59 million) to settle a tax dispute with the u . S .'s tax authorities last year, Meta is presently dealing with a explore for alleged unpaid fee-delivered taxes of approximately €870 million (round $928 million).

As for Airbnb, the organisation is dealing with scrutiny no longer handiest in Italy, however also in some of different main markets around the sector. According to reports, Dallas, Barcelona, San Francisco, Seattle, London, Paris, Singapore, New York City, Vancouver and Tokyo have all placed regulations on quick-time leases following diverse untoward incidents and protests from local citizens and organizations.

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