10:31 AM EDT, 07/21/2025 (MT Newswires) -- Meta Platforms ( META ) , X, and LinkedIn have filed appeals against a VAT claim by Italian authorities, Reuters reported Monday, citing sources familiar with the matter.

The companies lodged their appeals with a first-instance tax court after the deadline to respond to a tax assessment notice by Italy's Revenue Agency has passed, the report said.

Italy is seeking 887.6 million euros ($1.03 billion) from Meta, 12.5 million euros from X, and about 140 million euros from LinkedIn, according to the report.

This marks the first time Italy has pursued a full judicial tax trial against major tech firms rather than reaching a negotiated settlement, Reuters reported.

Meta, X, LinkedIn and Italy's Economy Ministry and Revenue Agency did not immediately respond to MT Newswires request 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.)

Price: 715.29, Change: +11.01, Percent Change: +1.56