12:52 PM EDT, 03/26/2025 (MT Newswires) -- Meta Platforms ( META ) , Microsoft's ( MSFT ) LinkedIn and Elon Musk's X received value-added tax demands from Italian government, Reuters reported Wednesday, citing people with direct knowledge of the matter.

The claim seeks 887.6 million euros ($957.5 million) from Meta, 140 million euros from LinkedIn and 12.5 million euros from X for the period covering fiscal 2015-2016 to 2021-2022, which is unprecedented, according to the report.

Meta declined Reuters' request for comment and said it has cooperated with the authorities on the obligations under EU and local laws.

Meta, LinkedIn and X did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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