What Happened: Airbnb is accused of neglecting to pay 21% withholding taxes on revenues amounting to approximately €3.7 billion from rentals, according to Bloomberg. This substantial move was announced by prosecutors from the Milan Tribunal. Additionally, three former employees of the San Francisco-based firm, who served during the period in question, are currently under investigation.

This incident is not an isolated occurrence; instead, it is part of a broader examination of the tax practices employed by multinational corporations, undertaken by Italian and European authorities. Earlier this year, Milan prosecutors launched an inquiry into Meta Platforms Inc. (NASDAQ:META), the parent company of Facebook, concerning alleged non-payment of value-added taxes estimated at approximately €870 million.