Monday, October 26, 2020

Google, Facebook and Microsoft Dodging Taxes

 Google, Facebook and Microsoft should be paying more corporation tax in developing nations, says ActionAid. The aid charity estimates that poorer countries are missing out on up to $2.8bn (£2.2bn) in tax revenue.

The aid charity said its research showed that the developing nations with the highest "tax gaps" from Google, Facebook and Microsoft are India, Indonesia, Brazil, Nigeria and Bangladesh.

 $2.8bn could pay for 729,010 nurses, 770,649 midwives or 879,899 primary school teachers annually in 20 countries across Africa, Asia and South America.

"Women and young people are paying the price for an outdated system that has allowed big tech companies, including giants like Facebook, Alphabet and Microsoft, to rack up huge profits during the pandemic, while contributing little or nothing towards public services in countries in the global south," said David Archer, global taxation spokesperson for ActionAid International. "The $2.8bn tax gap is just the tip of the iceberg - this research covers only three tech giants. But alone, the money that Facebook, Alphabet (Google's owner) and Microsoft would be paying under fairer tax rules could transform public services for millions of people".

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