Around the Net

Facebook Pays No UK Corporation Tax - Again!

Facebook paid no UK corporation tax for the second year in a row in 2013. The world’s largest social media company reported a pre-tax loss of £11.6m in the UK last year, despite its US parent company reporting a net profit of $1.5bn (£900m). UK revenues rose from £34.6m to £49.8m, Facebook UK classifies its turnover as “marketing and engineering services”, because much of the company’s ad revenues are funnelled through Ireland to take advantage of much lower tax rates.

Read the whole story at The Guardian »

Next story loading loading..