Italy has issued tax demands to Meta (META), Microsoft’s (MSFT) LinkedIn, and X in a landmark VAT case against U.S. tech companies, potentially impacting the entire EU, Reuters reports. While Meta and X were already known to be under investigation fortax fraud, it has now been revealed that LinkedIn is also involved in Italy’s pilot case for the tech sector. Italy is seeking EUR 887.6M, or $961M, from Meta, EUR 12.5M from X and around EUR 140M from LinkedIn.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- TD Cowen sees slower data center equipment purchasing as negative for Vertiv
- Anthropic Defeats Music Publishers’ Bid to Block AI Training in Copyright Lawsuit
- Anthropic Scores Early Hit in Universal Music Group (UMGNF) Case
- Chinese companies flood market with AI models after DeepSeek R1, Bloomberg says
- TikTok framing itself as ‘savior’ of Americans in new ad campaign, NYT reports