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m3n4.net October 18, 2018


Facebook: European Commission says tax agenda having 'real impact'

15 December 2017, 01:16 | Tara Lloyd

Facebook: European Commission says tax agenda having 'real impact'

Facebook will now start paying tax locally

University College Cork-based economist Seamus Coffey, an expert in corporation tax and head of the Government budget watchdog the Fiscal Advisory Council, said the move won't radically change Facebook's tax bill.

The Irish Department of Finance said it would be inappropriate to comment on Facebook's decision, but a spokesperson said: "Ireland continues to take an active role in global work to reform the worldwide corporate tax system".

The move will affect how Facebook pays taxes in 30 countries including Germany, France, Spain, Italy, the Netherlands, Belgium, Norway, Poland, and Sweden.

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The technology giant said yesterday that it would no longer book advertising sales made to larger customers located outside the United States via Dublin, its global headquarters. "It is our expectation that we will make this change in countries where we have a local office supporting advertisers in that country".

The move is a bid to provide more transparency for governments and lawmakers who have asked Facebook and other digital platforms for more visibility into the revenue associated with locally supported ad sales in those countries.

Chief Financial Officer Dave Wehner said it means "that advertising revenue supported by our local teams will no longer be recorded by our worldwide headquarters in Dublin, but will instead be recorded by our local company in that country".

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The European Commission is expected to introduce new legislative proposals in March that will increase taxes for digital businesses. Facebook will gradually introduce the new reporting structure throughout 2018, and the company expects to have the system fully in place by the first half of 2019.

Last year, Facebook began recording revenues for United Kingdom sales in Britain, resulting in a modest increase in the tax it paid there.

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