Facebook’s head of global affairs Nick Clegg said the company welcomes the progress made by the Group of Seven industrialized countries, on the minimum tax rate, and accepts that this may mean that the social network pays more taxes, and in different places. Facebook calls for reform of global tax rules and welcomes the important progress made at the G7,” “Today’s agreement is an important first step toward certainty for businesses and strengthening public confidence in the global tax system.”
“We want the international tax reform process to succeed, and realize that this could mean that Facebook pays more taxes, and in different places,” Facebook’s head of global affairs added.
And the Group of Seven major industrialized countries reached a “historic” agreement on imposing taxes on multinational companies, and the finance ministers meeting in London agreed to fight tax evasion through measures to make companies pay in the countries in which they do business, and they also agreed in principle to A global minimum corporate tax rate of 15%, to avoid countries reducing tax to compete with each other for corporate attraction.
That agreement — struck by the United States, Britain, France, Germany, Canada, Italy, and Japan — would pressure other countries to follow suit, including at the G-20 meeting next month.