EventsEventsPodcasts
Loader
Find Us
ADVERTISEMENT

Facebook caves under pressure from governments to change tax structure

Facebook caves under pressure from governments to change tax structure
Copyright 
By Euronews
Published on
Share this articleComments
Share this articleClose Button
Copy/paste the article video embed link below:Copy to clipboardCopied

Public criticism of the company has mounted in the UK after it was revealed to have paid just over £4,000 in tax in 2014

ADVERTISEMENT

Social media giant Facebook has caved into pressure from governments and the general public and is to overhaul its tax structure.

It currently re-routes revenue through its international headquarters in Dublin and attracted criticism in the UK after it was shown to have paid just over £4,000 in tax in 2014.

Corporate taxation has become a hot-button topic in the wake of revelations of tax avoidance schemes by multinationals which have led to calls for companies to pay more tax.

The company is expected to start paying tax on its local operations across roughly 30 jurisdictions outside the United States including France, Germany and eight other EU countries where Facebook has local offices.

Despite the move, Facebook is unlikely to pay much more as tax is paid on profits which can be difficlt to define for large companies.

Share this articleComments

You might also like