For anyone wondering if this will actually have a sizable impact on FAANG and their aggregate tax burden, my guess is no based on the following quote:
> Tech firms say they welcomed the move. Facebook vice president Nick Clegg said they recognised it could mean the company "paying more tax, and in different places".
Paying taxes, just like employing people, gives you leverage and generally more friendly conditions (including court rulings). With Facebook (and FAANG in general) coming under increasing scrutiny I imagine they would happily pay a bit more if their tax is spread over more territories and thus influences more politicians and courts.
> Tech firms say they welcomed the move. Facebook vice president Nick Clegg said they recognised it could mean the company "paying more tax, and in different places".