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.”
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.
G7 nations sign landmark global agreement to make tech giants pay fair taxesThe world’s richest countries signed a landmark global agreement Saturday to confront tax avoidance and make sure that giant tech companies pay their ... Economy
Tech giants join call for subsidy funding for US chip productionSome of the world’s biggest chip buyers, including Apple Inc, Microsoft Corp and Alphabet Inc’s Google, are joining top chip-makers such as Intel Corp ... Technology
EU drafts rules to rein in tech giants with fines, break-upsUS technology firms including Amazon, Apple, Facebook, and Google face fines of up to 10 percent of annual turnover and could even be broken up under ... Technology
US launches investigation into France’s planned tax on tech giantsUS President Donald Trump on Wednesday ordered an investigation into France’s planned tax on digital services that will hit American tech giants ... Technology