Oct 26, 2020

Facebook, Google and Microsoft 'not paying enough tax in developing world'

ActionAid is calling for new international tax rules that force big companies to pay a global minimum rate. Multinational corporations are currently not required by law to publicly disclose how much tax they pay in some developing countries. The aid charity wants to see a new global tax system created, preferably by the United Nations, whereby large corporations are required to pay a global minimum rate of corporate tax reflective of their "Real economic presence". The aid charity said its research showed that the developing nations with the highest "Tax gaps" from Google, Facebook and Microsoft are India, Indonesia, Brazil, Nigeria and Bangladesh. "The $2.8bn tax gap is just the tip of the iceberg - this research covers only three tech giants. But alone, the money that Facebook, Alphabet and Microsoft would be paying under fairer tax rules could transform public services for millions of people".

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