MILAN, Italy: Netflix and Italy have agreed to a $59 million settlement in order to settle a four-year tax dispute, according to a deal announced by Milan prosecutors.
From October 2015 to 2019 there were payments for taxes, penalties and interest.
Prosecutors in Italy said Netflix had developed a physical presence in Italy, including 350 servers, aimed at producing revenue that was not declared or taxed.
Netflix officials praised the settlement that resolves the claims covering the 2015 to 2019 tax years.
Netflix said in a statement that we cooperated with the authorities throughout the investigation and, as we have always made clear, we acted in full compliance with Italian and international tax law.
In Rome, Netflix opened an office with 70 employees last month.