Mark Zuckerberg says he would be ‘happy’ to pay more tax in European countries in the future.
The social media firm, along with other tech giants like Amazon and Apple, has faced waves of criticism for deliberately arranging its business structures to avoid paying higher tax bills in some of the European countries in which they operate.
In 2018, Facebook paid less than £30 million in corporation tax to the UK despite earning a record £1.65 billion in sales.
The Facebook founder said he accepted and supported plans by the Organisation for Economic Co-operation and Development (OECD) to find a “global solution” to the problem.
Speaking at a conference in Munich on Saturday, he is expected to say: “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. 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.”
Several governments in Western Europe have proposed a digital sales tax, taxing things like social media platforms, search engines and online marketplaces based on where activity takes place, not where the companies’ headquarters are. The UK believes it could generate an extra £500m per year after its expected introduction of April. However, with strong objections from the US and the resignation of Chancellor Sajid Javid, who was a strong campaigner for the tax, it could yet face resistance.