Facebook founder Mark Zuckerberg backed the OECD moves, saying he accepts he may have to pay more taxes under the proposed digital tax reforms.
The OECD group of free-market economies has been working on a solution about multinational companies who manage to find a way to avoid paying taxes, even if that means they would have to pay more to national governments.
“We also want tax reform and I’m glad the OECD is looking at this,” Zuckerberg said, and added: “I understand that there’s frustration about how tech companies are taxed in Europe. We want the OECD process to succeed so that we have a stable and reliable system going forward”.
Last year, France imposed its own tax on US digital giants such as Facebook, Google, Amazon, and Apple, angering from the US, who condemned the move as discriminatory.
Zuckerberg is to attend the annual security conference in Munich, where he is expected to say he accepts a new OECD system for online tax.
“The aim is to ensure that multinational enterprises conducting sustained and significant business in places where they may not have a physical presence can be taxed in such jurisdictions”, the OECD explained.