Netflix pays $59 million to settle tax dispute in Italy

MILAN (AP) — Netflix has agreed to pay more than $59 million to settle a tax dispute in Italy. Milan prosecutors said Friday that the payment covers taxes, penalties and interest from October 2015 through 2019. The streaming service also established an Italian subsidiary this year, which will determine its Italian tax burden based on subscriptions to Italian residents. Netflix welcomed the settlement that ends the case covering the tax years 2015 to 2019. Prosecutors in Milan say the investigation was triggered by the physical presence in Italy of technological infrastructure aimed at producing revenue.