Feb 4, 2020

Netflix accused of 'superhighway robbery' in Parliament

Netflix has been accused of committing "Superhighway robbery" by not paying any corporation tax in the UK. Labour MP Dame Margaret Hodge told MPs the taxpayer was "Being taken for a ride" by the video streaming service. According to estimates by Tax Watch, Netflix had 11.62 million subscribers in the UK in 2019. Dame Margaret, who chairs the all-party parliamentary group on responsible taxation, also said Netflix received £924,000 from the UK government via the high-end television tax relief, given to companies that produce television shows in the UK. She told MPs: "Netflix takes out of the public purse more than it contributes in corporation tax. While Her Majesty's Revenue and Customs fails to collect money from it in corporation tax, the US government is extracting tax from the same profits that it earns here and then hides in unknown tax havens." Dame Margaret said that Netflix was "Far from the only culprit" and "Tax credit abuse is rife in other industries, including film and video games". "The Tax Watch report has a number of inaccuracies, including that Netflix has a Caribbean-based entity."

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