Netflix is finally forced by the UK tax authorities to declare its revenue in the UK. The live streaming service has more than 13 million subscribers in the United Kingdom, and its revenue exceeds £ 1 billion there.
As the “Guardian” points out, Netflix has so far transferred the funds acquired to its headquarters accounts in the Netherlands. The site has been available in the UK since 2012. The decision could be a precedent for other tech giants like Apple, Facebook, Amazon or Google. Which is known to be responsible not in the country in which you work, but where tax rates are lower.
Also read: Netflix is increasing subscription prices
“As Netflix intensifies and expands its operations in the UK and other overseas markets, we want it to leave a footprint in these countries. Therefore, starting in the new year, the UK revenue will be settled in the UK and we will pay the tax accordingly,” said a Netflix spokesperson.
And there is a lot to pay for. UK subscribers pay between £ 5.99 and £ 11.99 a month for the service. This year, revenue is expected to reach 1.14 billion pounds. In turn, expectations indicate that next year the site will exceed 14 million accounts, and its revenues will reach the level of 1.3 billion pounds.
Read also: Discovery + live TV broadcast service enters Poland
No part or all of the work in the journal may be reproduced, published or published in any form and by any means (including copying, digitization, photocopying or copying), including publishing on the Internet – without the written consent of Gremi Media SA. Any use or use of the works in whole or in part without the consent of Gremi Media SA or the authors in conflict with the law is prohibited by penalty and they may be prosecuted.
This material can only be published in accordance with the provisions “Regulations for the Use of Press Articles” [Poprzednia wersja obowiązująca do 30.01.2017]. The application form can be downloaded on the website www.rp.pl/licencja.