Netflix Accused in British Think Tank Report of Funneling $430 Million Into 'Tax Havens'

Netflix is alleged to have funneled as much as $430 million in international profits into "tax havens."

That's the assessment put forth in a report from the British group Tax Watch, as Deadlineinformed readers on Wednesday.

"In total, we estimate that the company moved between $327.8M to $430M in profits to low tax jurisdictions from its international operations. Netflix also presents another issue particular to the film and television world, which is the way in which it is able to attract tax credits," the Tax Watch report states. "The company is now ramping up production of original content in the UK, and it is likely that this will attract substantial subsidies from the UK taxpayer."

The report—also picked up by the Guardian—adds that there is "little doubt" the streaming brand has been structured to avoid taxes, with estimates cited that between $327.8 million and $430 million of overseas profits were moved to low-tax jurisdictions like the Netherlands. The revenue of Netflix Services UK is also disputed in the watchdog group's report, with researchers arguing that the company's UK presence is "far larger" than reported, not to mention the company reportedly received an estimated $1.2 million in tax relief in the UK for shows including The Crown and Sex Education.

Read the full Tax Watch report here, and/or check out a Deadline-published breakdown here.