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Facebook says it could pay more tax after G7 landmark deal

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Facebook welcomes the progress made by the Group of Seven on a minimum tax rate and accepts this could mean the social network pays more tax, and in different places, its head of global affairs Nick Clegg said on Saturday.

“Facebook has long called for reform of the global tax rules and we welcome the important progress made at the G7,” Clegg said on Twitter. “Today’s agreement is a significant first step towards certainty for businesses and strengthening public confidence in the global tax system.”

“We want the international tax reform process to succeed and recognize this could mean Facebook paying more tax, and in different places.”

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Earlier on Saturday, the world’s richest countries signed a landmark global agreement to confront tax avoidance and make sure that giant tech companies pay their fair share, Britain’s treasury chief said.

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