Business
Facebook’s loophole cuts GST bill – The Australian Financial Review
Facebook sold an estimated $2.2 billion in ads to Australian clients in 2019, but only reported $709.5 million of sales as ads booked through its Australian arm.
Facebook moved to charge GST on Australian sales in August 2018, in response to the 2017 Netflix tax, which required offshore providers to charge GST when Australian consumers bought digital products.
The goal of the legislation was to even the playing field with local companies that had to charge GST notably Netflix which competed with Stan, owned by Nine Entertainment, which publishes The Australian Financial Review.
But the law was aimed at sales to consumers and most online advertising is …
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