By Jack Denton
The payment follows years of scrutiny by French tax authorities since a 2012 raid on Facebook's offices.
Facebook will pay the French government EUR106 million ($125 million) in back taxes to settle a dispute that began with a raid on the tech company's Paris offices in 2012.
The back taxes cover a period from 2009 to 2018, a decade of revenues that has been scrutinized by French tax authorities since the 2012 raid.
The social media giant also said that it was paying EUR8.46 million in tax revenue this year in France, which is a nearly 50% increase on last year.
"We pay the taxes we owe in every market we operate," a Facebook (FB) spokesperson said. The spokesperson also noted that, since 2018, the company has changed its selling structure so that revenue from advertisers supported by their French offices is now recorded in France.
Facebook isn't the first tech company to face pressure from French tax authorities. Other American tech giants that are active in France have reached similar settlements. Google (GOOGL) and Apple (AAPL) both reached tax settlements in 2019 and Amazon (AMZN) did in 2018.
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(END) Dow Jones Newswires
August 25, 2020 12:35 ET (16:35 GMT)
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