Mark Zuckerberg supports digital tax, says- 'No objection to more tax ...'

Feb 15 2020 04:58 PM
Mark Zuckerberg supports digital tax, says- 'No objection to more tax ...'

Facebook founder and CEO Mark Zuckerberg has advocated a new framework for tax for online companies. In addition, Zuckerberg has supported the efforts of the Organization for Economic Co-operation and Development (OECD) in this matter and said that companies are not objecting to over-taxation. The issue of digital tax has been in dispute for a long time. At the same time, there has been an argument between the US and France when France imposed a tax on American online companies separately.

Apart from this, the US had called it a discriminatory decision. Currently, last month both countries agreed to create a global framework for this under the OECD. Here, Britain is also ready to impose its own digital tax. On the other hand, the US has proposed an alternative system, but experts believe that this may make it difficult to follow the law. He also feared a detailed agreement about this by the end of the year. The next stop for OECD negotiators will come in the first week of July, when 137 of its member nations agree on key policies related to digital tax.

For your information, let us tell you that Zuckerberg will address a security conference in Munich on Saturday. He said that Facebook would not refrain from following the OECD's new digital tax regime, even though online companies would have to pay more taxes in different countries than before. At the same time, the OECD has said that the new system is expected to get more than $ 100 billion in corporate tax globally. At the same time, its biggest advantage will be that the digital companies' habit of building their headquarters in low-tax countries like Luxembourg and Ireland can be curbed to save tax.

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