Airbnb took in $4bn in Italy. Now the Finance Police is seizing $835m

Airbnb didn’t pay Italy the 21% withholding taxes owed on about €3.7 billion of rental income, in keeping with an announcement Monday from Milan Tribunal prosecutors. Three individuals who labored for the San Francisco-based firm throughout that point are beneath investigation, the assertion added.

Airbnb said in its personal assertion that European workers was in lively discussions with the Italian tax company to resolve this subject since June. 

“We’re stunned and upset on the motion introduced by the Italian public prosecutor on Monday,” stated Airbnb spokesman Christopher Nulty. “We’re assured that we have now acted in full compliance with the legislation and intend to train our rights with respect to this subject.”

The transfer follows an effort by Italian and European authorities to scrutinize the tax practices of world firms. In 2019, Italian prosecutors probed Netflix Inc. after the US streaming firm did not file a return, individuals acquainted with the matter stated at the moment. 

Earlier this yr, Milan prosecutors began investigating Fb dad or mum firm Meta Platforms Inc. for alleged unpaid value-added taxes that totaled about €870 million, individuals acquainted with the matter instructed Bloomberg last February.