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.
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