French government will receive more than 100m USD from Google

Facebook's French subsidiary (O: FB) has agreed to pay more than € 100 million ($ 118 million) in back taxes, including a fine, after a ten-year audit of its accounts by French tax authorities, the company said on Monday With. France, which is pushing to overhaul international tax rules for digital companies such as Facebook, <a class="tvreplink" target="_blank" href="https://www.tradingview.com/chart/?symbol=Nasdaq%3AGOOG">Alphabet's Google (O: GoogL), Apple (O: AAPL) and Amazon (O: AMZN), has said the big tech companies are paying too little taxes in Pay to the country where they have significant sales. Current international tax regulations allow companies by law to route sales made in local markets in Europe to their regional headquarters. Some of the tech companies, including Facebook, have European or international headquarters in countries with relatively low corporate tax rates, such as Ireland. A Facebook spokesman said the French tax authorities had carried out an audit of Facebook accounts for the 2009-2018 period, which led to an agreement by the subsidiary to pay a total of 106 million euros. The Facebook spokesman did not go into the details of the agreement. The French tax administration did not provide any further information either. The Facebook spokesman also said the company had decided since 2018 to include its advertising sales in France in its annual financial statements for France. As a result, Facebook's total net income in 2019 almost doubled year-on-year to € 747 million, as shown by a copy of Facebook France's 2019 financial statements, which was filed with the French business register and viewed by Reuters. Facebook France, which employs 208 people, refers in its 2019 annual financial statements to the French tax audit report, which showed a tax adjustment of around 105 million euros. This includes a fine of around 22 million, according to the annual financial statements. The French magazine Capital was the first to report back tax payments. The spokesman for Facebook said the company paid € 8.5 million in income tax in France in 2019, an increase of almost 50% over the previous year. "We take our tax obligations seriously, pay the taxes we owe in all the markets we operate in, and work closely with tax authorities around the world to ensure we comply with all applicable tax laws and all litigation enclose, "he said.