Netflix Inc (NASDAQ:NFLX, ETR:NFC)'s offices in Paris and Amsterdam have been raided by French inspectors as part of a preliminary investigation into tax avoidance.
French paper Marianne reported that the company's offices in central Paris were raided on Tuesday morning with reports later stating that its HQ in the Netherlands had also been targeted.
France’s National Financial Prosecutor’s Office (PNF) has been investigating the streaming giant for potential tax fraud since 2022, though a tax raid does not necessarily mean that any action will follow.
Neither Netflix in France nor the Netherlands have confirmed the reports.
The European Union has been cracking down on US tech giants for alleged non-payment of taxes and breaches of competition rules.
Apple was recently told to pay Ireland €13 billion in back taxes, while in September Google was told to pay a €2.4 billion fine for market dominance in shopping channels plus €4.3 billion for embedding its Android operating system.
In 2022, Netflix paid the Italian government €55.8 million to settle a tax dispute.