MUNICH (Reuters) – Facebook (FB.O) Chief Executive Mark Zuckerberg accepts that global tax reforms mean it may have to pay more taxes in different countries, excerpts of a speech he is due to deliver in Germany on Saturday show.
FILE PHOTO: Facebook Chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington, U.S., October 23, 2019. REUTERS/Erin Scott/File Photo
Cross-border tax rules are set to be rewritten after 137 states sought last month to avoid a new trade war over the global multiplication of taxes on digital services, prompted by some countries preparing to go it alone.
“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,” Zuckerberg is expected to tell the Munich Security Conference.
“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…
Source Reuters Tech News