While the Milan prosecutor’s office is investigating the Meta group for tax evasion, it is planning thousands of new layoffs. That writes the Washington Post Wednesday. The company only announced in November that it would cut 11,000 jobs.
According to the newspaper report, thousands of employees now have to tremble for their jobs at the Facebook parent company. The company Meta includes the courier service WhatsApp and the photo platform Instagram.
Tax evasion of 870 million euros?
As reported, the Milan Prosecutor’s Office is currently investigating Meta. The company is accused of evading around €870 million in VAT between 2015 and 2021. The figure comes from an investigation by the tax police, according to which the US giant, which controls Facebook, Instagram and WhatsApp, has not filed any VAT returns for the years 2015 to 2021, Il Fatto Quotidiano daily reported.
A spokesperson responded to the allegations on Wednesday. “We take our tax obligations seriously and pay all required taxes in every country in which we operate. We are firmly opposed to making users’ access to online platforms subject to the payment of VAT.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
