Netflix is ripping off our public services – John McDonnell

John McDonnell MP, Labour’s Shadow Chancellor, responding to research showing that Netflix is structuring its activities to channel profits through tax havens, said:

“This research shows that Netflix is ripping off our public services by channelling profits through tax havens even though it appears to have employees, property, and a substantial customer base in the UK.

“What’s even worse is that Netflix is claiming tax reliefs in the UK at the same time as it’s channelling profits overseas.

“The Government should go beyond its weak Digital Services Tax and support Labour’s proposal for unitary taxation of multinationals, which would require Netflix and other large multinationals to pay their fair share of tax.”

Ends

Notes to Editors:

·              Tax Watch UK’s research on Netflix was published today here: https://www.taxwatchuk.org/wp-content/uploads/2020/01/Netflix_Report_FINAL_20200109.pdf

·              Labour’s policy of unitary taxation of multinationals could raise between £6 and 14 billion, as estimated in an independent study by Professor Sol Picciotto and Danny Bertossa: https://pop-umbrella.s3.amazonaws.com/uploads/9dacd52a-6987-4dcb-a90c-4a1146f4a342_Taxing%20Multinationals.pdf.