Face­book pays more UK tax after out­cry

The Myanmar Times - - International Business -

FACE­BOOK paid £4.17 mil­lion (US$5.18 mil­lion) in Bri­tish cor­po­ra­tion tax last year, up from just £4327 in 2014. The sharp in­crease re­flects how the US tech­nol­ogy gi­ant has changed the way it records ad­ver­tis­ing rev­enues fol­low­ing pub­lic crit­i­cism.

It be­gan declar­ing sales from its top Bri­tish clients in Bri­tain rather than Ire­land, where it has its Eu­ro­pean head­quar­ters – and where cor­po­ra­tion tax is lower. How­ever, the tax amount paid is still only a frac­tion of the £211 mil­lion rev­enues that Face­book re­ported in Bri­tain last year.

“We are proud that in 2015 we have con­tin­ued to grow our busi­ness in the United King­dom and cre­ated over 300 new high-skilled jobs,” a com­pany spokesper­son said.

US multi­na­tion­als Ap­ple and Google, which also run large parts of their in­ter­na­tional op­er­a­tions via Ire­land, have also faced in­tense scru­tiny over their tax af­fairs.

The cor­po­rate tax rate in Ire­land is 12.5 per­cent, one of the low­est in the EU. In Bri­tain it is 20pc. –

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