Mark Zuckerberg caught European authorities by surprise today after the tech billionaire admitted Facebook must pay more tax in the region.
The boss of Facebook said he recognises people’s frustration over the issue and said he backed plans by the Organisation for Economic Co-operation to find a global solution.
In the UK the social network paid just £28.5 million in corporation tax, despite revenue hitting £1.65 billion.
At a conference in Munich tomorrow, Zuckerberg will say: “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.
"We accept that this may mean we have to pay more tax and pay it in different places under a new framework.”
