Facebook CEO Mark Zuckerberg is planning to state in an upcoming speech that he is ready for Facebook to pay more tax in certain countries if it means that global tax laws are reformed.
Reuters reports that Facebook CEO Mark Zuckerberg is set to give a speech at the Munich Security Conference in Germany this week, excerpts show that global tax reform will be a key talking point for Zuckerberg. The CEO is expected to express his support of global tax reform even if that means his company could pay more tax in certain countries. His comments pertain to the Organisation for Economic Co-operation and Development (OECD).
“I understand that there’s frustration about how tech companies are taxed in Europe. We also want tax reform and I’m glad the OECD is looking at this,” Zuckerberg is expected to tell the Munich Security Conference.
The speech continues: “We want the OECD process to succeed so that we have a stable and reliable system going forward. And we accept that may mean we have to pay more tax and pay it in different places under a new framework.”
Last month, the OECD stated that government officials agreed to negotiate new rules for where taxes should be paid and what percentage of profits would be taxed. Tech firms such as Apple and Facebook have come under fire in recent years for basing their operations out of low corporation tax countries such as Ireland.
Zuckerberg is set to meet with EU digital and industry chiefs on Monday. This meeting comes just two days before European Competition and Digital Commissioner Margrethe Vestager and Internal Market Commissioner Thierry Breton are scheduled to announce the creation of a single European data market with the aim of focusing on the dominance of tech giants such as Facebook, Google, and Amazon.