It's time for multinational corporations to pay: Expert

Tax Expert Dilip Garach spoke with eNCA's Dan Moyane. Courtesy of #DStv403

JOHANNESBURG - Tax expert Dilip Garach said the time has come for Google and Facebook to pay tax in the countries they operate in.

His comment comes after South Africa joined 130 other countries in calling for the introduction of a tax on multinational digital businesses.

READ: Global tax reform plan goes to the G20

The world's 19 biggest economies plus the European Union have already backed the framework for global tax reform, agreed on 1 July among members of the Organisation for Economic Cooperation and Development (OECD) alongside China and India.

Garach said: "For far too long these multi-national corporations have been doing business across the globe however their operations are based in areas that are considered as tax havens, and as a result, they pay little or no tax. There are 10 countries around the world that the tax is zero so many of these multi-national corporations find ways to these tax havens and they pay little or no tax."

Source
eNCA

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