Italy hands VAT bill to Meta, X and LinkedIn in landmark tax case

Italy hands VAT bill to Meta, X and LinkedIn in landmark tax case


Visitors take pictures by a sign posted in front of Meta headquarters in Menlo Park, California, on Jan. 29, 2025.

Justin Sullivan | Getty Images

Italy has handed tax demands to Meta, X and LinkedIn in the formal and final step in an unprecedented official VAT claim against the three U.S. web giants that could have repercussions across the European Union, four sources with direct knowledge of the matter said on Wednesday.

While it has been reported that Facebook and Instagram parent company Meta and Elon Musk’s social network X were under investigation for alleged tax fraud, it had not been disclosed that Microsoft’s LinkedIn unit was also caught up in Italy’s pilot VAT case for the tech sector in Europe.



Source

How private credit’s cracks are threatening to deepen private equity’s woes
World

How private credit’s cracks are threatening to deepen private equity’s woes

Private credit’s rapid rise has been key to global dealmaking for more than a decade. Now, signs of strain in the $3 trillion market are raising a bigger question: how far the fallout from private credit could spread into private equity. The two pillars of private markets have become deeply intertwined over the past decade, […]

Read More
China keeps benchmark lending rates unchanged as economic growth revs up, Mideast risks loom
World

China keeps benchmark lending rates unchanged as economic growth revs up, Mideast risks loom

BEIJING, CHINA – DECEMBER 22: A woman walks by the headquarters of the People’s Bank of China (PBOC) on December 22, 2025 in Beijing, China. Zhang Xiangyi | China News Service | Getty Images China held its benchmark lending rates unchanged for an 11th straight month, keeping its powder dry as policymakers weigh the economic […]

Read More
Asia markets set to open higher amid renewed Iran-U.S. tensions
World

Asia markets set to open higher amid renewed Iran-U.S. tensions

Currency dealers monitor exchange rates as an electronic screen (top) shows South Korea’s benchmark stock index (KOSPI) in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on March 13, 2026. Jung Yeon-je | Afp | Getty Images Asia-Pacific markets were set to open higher Monday, as investors continue to keep a […]

Read More