The move is said to be in response to global pressure to change the IT companies’ tax-saving practices, like transferring revenue to countries like Ireland and Singapore. The EU has increased pressure for large companies to book sales in the country where the sales were generated.
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Amid EU Pressure, IT Giants to Begin Ad Booking in Japan
Google LLC and Facebook, Inc. are reportedly planning to locally book advertising revenue from their Japanese operations, as opposed to posting them in other countries with lower tax rates. So reports The Japan Times.