01:59 PM EST, 12/09/2024 (MT Newswires) -- A probe by Italian authorities into alleged tax evasion of 887.6 million euros ($937.93 million) by two executives from Meta Platforms' ( META ) Irish unit concluded, paving the way for a request for trial, Reuters reported Monday, citing the Milan prosecutor's office.

Meta has 60 days to respond to the tax authority's observations and either pay a sum to the state or initiate a judicial tax dispute, the report said.

Italian regulators had claimed that Meta user registrations could be seen as a taxable transaction, suggesting VAT evasion.

"We strongly disagree with the idea that providing access to online platforms to users should be charged with VAT," a Meta spokesperson said, Reuters reported.

Meta didn't immediately respond to a request for comment from MT Newswires.

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