Facebook says it could pay more corporate tax after G7 decision
Facebook on Saturday welcomed progress made by G7 group of countries on a minimum tax rate. The social media giant accepted that the decision can mean that it would have to pay more taxes 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."
On Saturday,the G7 group of nations agreed to keep 15 per cent as the minimum rate for corporate tax. It is being understood that the decision has been taken with an eye on multinationals, especially tech companies.
The proposal, will now go to the expanded group of 20 countries at their finance meeting in July.
(With inputs from agencies)
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