Exclusive-Italy targets ION in latest Big Tech tax evasion probe, sources say

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The story "Exclusive-Italy targets ION in latest Big Tech tax evasion probe, sources say" was covered 1 weeks ago by Channel News Asia, a news publisher based in Singapore.

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Exclusive-Italy targets ION in latest Big Tech tax evasion probe, sources say - Channel News Asia

Quick Summary:

ROME :Italy is seeking 1.2 billion euros ($1.3 billion) from fintech group ION following a probe by prosecutors in the northern city of Bologna into alleged tax evasion over the 2013-2023 period, two people with knowledge of the matter said.

ION's lawyers are in discussions with the Italian tax authority to contest the claims, the person added.

Reuters reported last month that Italy had handed tax demands to Meta, X and LinkedIn in an unprecedented VAT claim against the U.S.tech giants that could have repercussionsacross the EU.