Facebook says it may pay more taxes after G7 agreement

Nick Clegg, director of global affairs at Facebook, said Saturday that the company welcomes the progress made by the Group of Seven on the minimum tax rate and accepts the fact that this will lead to the social network paying more taxes in different places.

"Facebook has long been calling for reform of global tax rules and we welcome the important progress made at the G7...Today's agreement represents an important first step toward corporate confidence and strengthening public confidence in the global tax system," Clegg said on Twitter.

"We want the international tax reform process to succeed, and we know that this could mean that Facebook pays more taxes in different places," he added.