Facebook’s head of global affairs, Nick Clegg, said the social media giant welcomes the Group of Seven’s efforts on a minimum tax rate, but acknowledged that it may mean the social network pays more tax in different regions.
Clegg wrote on Twitter, “Facebook has long called for reform of the global tax rules and we welcome the important progress made at the G7. 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,” he added.
To Read More: Reuters
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