Twitter-X Tax Evasion of 12.5 Million Euros Under Investigation

Milan: The Economic and Financial Police Unit of the tax police in Milan concluded a tax audit of Twitter, now rebranded as X under the ownership of Elon Musk, in April 2024. It came to light on Tuesday that the audit revealed a failure to pay VAT amounting to 12.5 million euros per year until 2022, according to judicial sources.

According to Ansa News Agency, the Milan Public Prosecutor’s Office, led by prosecutor Giovanni Polizzi, has initiated an investigation into tax evasion concerning this matter. The ongoing investigation into X’s tax practices appears to mirror a similar probe concerning Meta.

The scrutiny of corporate tax compliance continues to be a focal point for authorities, as evidenced by these high-profile cases. The developments in these investigations are closely monitored by stakeholders and observers.