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Is Netflix dodging tax in Australia?
In Australia, Netflix is under fire for paying around half a million dollars in tax despite estimates it brought in more than $1 billion dollars in revenue last year.
It’s an insight into how the company operates and profited from the stay-at-home measures put in place due to the pandemic.
The US-based streaming giant is slowly increasing the amount of income tax it pays locally, coughing up around $550,000 for 2020.
However, the company continues to use a corporate structure allowing a Netherlands-based subsidiary to recognise its Australian revenue.