Select Page

The boss of Facebook says he accepts tech giants may have to pay more tax in Europe in future and recognises people’s “frustration” over the issue.

Mark Zuckerberg also said he backed plans by think tank the Organisation for Economic Co-operation and Development to find a global solution.

Facebook and others have been accused of not paying their fair share of tax in countries where they operate.

But some say the OECD is moving too slowly towards its goal of a 2020 deal.

In the UK, Facebook paid just £28.5m in corporation tax in 2018 despite generating a record £1.65bn in British sales.

At the time tax campaigner and MP Margaret Hodge said such a low bill was “outrageous”, but Facebook said it pays what it owes.

In a conference in Munich this Saturday, Mr Zuckerberg will say: “I understand that there’s frustration about how tech companies are taxed in Europe.

“We also want tax reform and I’m glad the OECD is looking at this. We want the OECD process to succeed so that we have a stable and reliable system going forward.

“And we accept that may mean we have to pay more tax and pay it in different places under a new framework.” Read more

Also Read: Coronavirus: More may need to self-isolate to stop spread – NHS boss

hw.kk