Facebook paid less tax last year than the average British worker – despite making £105million from advertising and other sales.
The social media giant’s UK business handed over just £4,327 in company taxes, while a Briton earning the average salary would have paid more than £5,000 on their income.
The revelations will add to the debate over how to ensure multinational firms such as Facebook – which has claimed that at least a third of UK adults visit its website every day – pay their fair share in each country in which they operate.
The company’s 362 UK staff took home an average of £210,000 in pay and bonuses last year, according to its latest accounts.
Facebook’s British arm was able to slash its tax bill by reporting an accounting loss of £28.5million last year, having handed out £35.4million to its workers through a share bonus scheme.
This scheme was worth more than £97,000 on average for each member of staff, the company accounts show.
In contrast to Facebook’s tax payment of £4,327, a single worker on the average UK salary of £26,500 would be liable for £3,180 in income tax and £2,213 in national insurance contributions – a total of £5,393. Full story...
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The social media giant’s UK business handed over just £4,327 in company taxes, while a Briton earning the average salary would have paid more than £5,000 on their income.
The revelations will add to the debate over how to ensure multinational firms such as Facebook – which has claimed that at least a third of UK adults visit its website every day – pay their fair share in each country in which they operate.
The company’s 362 UK staff took home an average of £210,000 in pay and bonuses last year, according to its latest accounts.
Facebook’s British arm was able to slash its tax bill by reporting an accounting loss of £28.5million last year, having handed out £35.4million to its workers through a share bonus scheme.
This scheme was worth more than £97,000 on average for each member of staff, the company accounts show.
In contrast to Facebook’s tax payment of £4,327, a single worker on the average UK salary of £26,500 would be liable for £3,180 in income tax and £2,213 in national insurance contributions – a total of £5,393. Full story...
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