By: The Guardian
November 28, 2020
Netflix is to finally start declaring the £1bn-plus revenues it makes from millions of British subscribers each year to the UK tax authorities, a move likely to ramp up pressure on tech firms such as Google and Amazon to stop funnelling revenues through overseas tax jurisdictions.
Netflix, which has funnelled UK-generated revenue through separate accounts at its European headquarters in the Netherlands since launching in Britain in 2012, is to notify its almost 13 million UK subscribers on Tuesday about the change, which starts from January.
The change is likely to increase the amount Netflix pays in UK corporation tax and is expected to add to pressure on Google, Amazon and other tech firms that have been accused of funnelling revenues to low-tax jurisdictions to avoid tax.