Snap Inc. supports Fair Tax Mark going international

By December 13, 2021News

We recently launched our Global Multinational Business Standard, allowing businesses headquartered outside the UK to attain the Fair Tax Mark, the gold standard of responsible tax conduct.

The reception to the Fair Tax Mark becoming available to multinational enterprises around the world has been really positive, with businesses, investors and organisations celebrating the news.

Snap Inc., owner of Snapchat, has issued a public statement of support.

Jonathon Locascio, Senior Director of Tax, Snap Inc., said:  “At Snap, we view tax not just as a legal obligation but as a way to appropriately support the communities where we operate — in other words, we view it as part of our overall corporate mission.  There is considerable alignment between Fair Tax Mark and the Snap Tax Strategy publicly disclosed in our recent 2021 CitizenSnap report, most foundationally the perspectives of fairness and transparency that result in paying the right amount of tax, at the right time and in the right place.  We commit to publicly disclosing, on a country-by-country basis, our total tax contribution when we become profitable and income tax expense and income taxes paid become material, at which point we look forward to receiving certification from Fair Tax Mark.”

Find out more about the Global Multinational Business Standard and how your business can apply for, and gain, the Fair Tax Mark.