Facebook pays over EUR 100 mln to settle back taxes in France

News Broadband France 24 AUG 2020
Facebook pays over EUR 100 mln to settle back taxes in France

Facebook has agreed to pay over EUR 100 million in back taxes in France for income generated in the country before 2018, Capital.fr reports. The settlement proposed by the French authorities includes EUR 22 million in penalties, according to documents seen by Capital. 

Facebook France's accounts for 2019 show this left the subsidiary with a loss of EUR 88 million in 2019. The company confirmed the settlement, saying it paid EUR 106 million in total to settle taxes from 2009 to 2018. 

The settlement follows a raid by tax authorities on Facebook's French offices in 2012. This was part of a wider campaign by the treasury to make tech multinationals more accountable for tax on their income generated in France. Each settled separately in the end, with Google paying EUR 1 billion and Apple EUR 500 million. 

Since 2012, Facebook has agreed to declare more of its income in France. For 2019, the company paid in total EUR 8.7 million in income tax, on revenues of EUR 747 million. 

Categories:

Internet

Companies:

Facebook

Countries:

France

Tags:

Finance, Legislation - Lawsuits

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