Facebook says it could pay more tax after G7 deal

Platform News: Facebook meeting

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 over the weekend.

Facebook has long called for reform of the global tax rules and we welcome the important progress made at the G7,” Mr Clegg, a controversial and widely discredited centre-left political operative from the UK 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.”

The team at Platform Executive hope you have enjoyed this article. Automatic translation from English to a growing list of languages via Google AI Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Kate Holton. Editing by Michael Holden.

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