Payments to Meta Platforms Ireland for purchases of services rose 5 per cent to $157.4m from $149m in 2022. Multiple tech multinationals have subsidiaries in Ireland, which has a 12.5 per cent corporate tax rate for trading income. A digital services tax? In June 2019, then Finance Minister Grant Robertson and then Revenue Minister Stuart Nash proposed a digital services tax (DST) that would impose a flat 2 or 3 per cent levy on a tech multinational’s NZ revenue. Collins and Revenue Minister Simon Watts have been approached for comment on Facebook NZ’s results, and any measures in the works regarding multinationals’ financial reporting.

Source: The Herald May 09, 2024 22:50 UTC