Google, facebook and Starbucks all use tax havens to minimized their taxable income. But there's a growing movement on the part of big countries to collect more off the profits that are made within their borders.
$125 billion has been wiped off the value of the social media giant after it reported slower revenue growth. A day earlier, China withdrew its approval for Facebook's planned "innovation hub" in Hangzhou.
A French court has ruled that the internet giant is not liable to pay more than one billion euros on profits channeled through its subsidiary in Ireland - a favorite among multinationals seeking lower taxes in the EU.
G7 countries and leading technology companies including Google, Facebook and Twitter have agreed to work together to combat online terror propaganda. The accord is aimed at blocking jihadi content online.
German and French finance ministers have proposed that Silicon Valley giants like Google and Facebook pay tax in the countries where they earn revenue. Smaller countries are skeptical the new regulations will work.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version