October 20, 2020

EU CHRONICLE

News from the European Union

Facebook agreed to pay tax of €106 Million to France

Facebook’s French branch agreed to pay €106 million of back taxes and penalties.  The news comes as part of a broader crackdown on digital giants by French tax authorities, who have accused tech companies of under declaring their profits in the country.

The French government has been negotiating settlements with several of them since 2017. Amazon signed a €200 million check in 2018, Google agreed to pay €1 billion, Apple €500 million and Microsoft €350 million in 2019.

Facebook is the last to agree on a settlement, which includes €22 million in penalties, according to documents seen by Capital. This year, Facebook said it is paying €8.46 million in income tax, an increase of almost 50 percent compared to last year.

Photo Credit : https://commons.wikimedia.org/wiki/File:F_icon.svg

%d bloggers like this: