Facebook Spain Agrees To Pay 34 million Euros To The Treasury

Facebook Spain Agrees To Pay 34 million Euros To The Treasury.

Facebook Spain has reached an agreement with the Spanish Tax Agency to pay 34.4 million euros of corporation tax for the periods between 2013 and 2018. The social media multinational has already paid some of the money to the treasury, a first instalment at the beginning of 2020 of 14.4 million and a second payment before the end of 2020.

The Spanish subsidiary tripled its tax contribution in 2019 by paying three million euros for corporate tax, compared to the 864,098 euros it paid a year before and the 66,872 euros disbursed in 2017.

This agreement is a milestone for Spain and comes at a time when there is much controversy over the low tax bill paid by these companies in the countries where they operate thanks to the complicated tax system they apply.

The US tech giants have their main headquarters in a country with low taxation and through it they invoice the bulk of their business (subscriptions or advertising), while the subsidiaries of the different countries invoice them only for management concepts. marketing and promotion, so both income and tax payments are meagre.

The attorney general of New York has filed a massive antitrust lawsuit against Facebook. The lawsuit alleges that the social media tech giant engaged in unlawful and anticompetitive tactics to buy or kill off its rivals in an attempt to solidify its dominance in social networking.

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