The leading online movie rental giant, Netflix has confirmed that they didn’t pay any corporation tax past year, despite making whopping ?200 millions of revenue in Britain. The largest movie streaming service in the world has over 5 million UK subscribers and it has proved its great presence by offering several shows made in the US like BBC’s Sherlock and House of Cards. The company has been quickly looking forward to defend their decision of not paying any tax while confessing that they are making losses on global ventures. Last year, it paid around ?573,396 in Luxembourg.

Netflix Confirmed Not Paying UK Corporation Tax for Last Year

According to The Sunday Times, Netflix International BV generates around ?11.3million of net profit with ?415million of turnover. Typically British customers pay around ?5.99 per month and the services are given on contracts with Netflix BV. It means Netflix BV generated most of its profits from UK subscriptions, though it was once Dutch-based

https://techiebun.com/wp-content/uploads/2015/12/Netflix-Confirmed-Not-Paying-UK-Corporation-Tax-for-Last-Year-1024x768.jpg https://techiebun.com/wp-content/uploads/2015/12/Netflix-Confirmed-Not-Paying-UK-Corporation-Tax-for-Last-Year-150x150.jpg Sachin Saxena Featured News The leading online movie rental giant, Netflix has confirmed that they didn’t pay any corporation tax past year, despite making whopping ?200 millions of revenue in Britain. The largest movie streaming service in the world has over 5 million UK subscribers and it has proved its great presence by... The tech Mag