Until now, the company, which paid only 2.7 million in corporate tax, invoiced Spanish subscriptions in the Netherlands
From entering 46 million in 2020 to shooting profits to 597.1 million in 2021. This is the staggering increase in Netflix’s sales in Spain in one year after the streaming series and movies company changed its commercial policy and bill. as of January 1, 2021 has changed subscribers in Spain in the country itself.
The company, which does not reveal how many users it has in Spain, although some reports speak of about 5 million, had until then had revenues mainly from providing marketing services. Until now, it always invoiced its Spanish customers from the Netherlands, a country with a more favorable tax policy for them.
The accounts filed in the commercial register show that the multinational has paid 2.7 million euros to companies in terms of taxes, only 1.7% more than in 2020, despite revenues increasing much more. This is because this tax is calculated on the profit and the company has increased its costs with the change in commercial policy, resulting in a net profit of 8.7 million.
Naturally, the company has outstanding accounts with the Treasury for an amount of 10.8 million euros, the majority of which corresponds to VAT. The workforce already stands at 44 employees, six more than in 2020.
On the side of the production company in Spain of which Netflix is the sole shareholder, Los Gatos Entertainment Spain, it entered 17.8 million in 2021, 51% more than the year before. Net profit doubled to 1.3 million.
In addition, the production company has expanded its staff to 50, for which the personnel costs amounted to more than 12 million euros, almost 60% more. The company paid 675,000 euros in taxes, 14% more than in 2020.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
