Airbnb is facing the prospect of an immense tax bill
Airbnb is facing the prospect of a tax bill worth hundreds of millions of euros following an Italian court ruling in an tax evasion case.
Prosecutors in Milan say a judge authorised the seizure of €779.5m from the short-term property rental platform.
They said it related to an alleged failure by the company to comply with laws that require Airbnb to pay Italian tax authorities 21% of landlords' rental income in the country.
The requirement dates back to an EU Court of Justice ruling in 2017 that was unsuccessfully appealed by Airbnb earlier this year.
The money seizure order, which covers the years 2017-2021, targets Airbnb's Ireland unit and also three individuals who held managerial roles at the company during that timeframe.
Airbnb has yet to comment.
The company had fought the tax crackdown, which demanded Airbnb and rivals to provide the authorities details of all their rental contracts in Italy, on the grounds it broke EU principles on the freedom to operate across the bloc.