Facebook says UK corporation tax payment of just £4,327 was legal

[webfact]

Facebook says UK corporation tax payment of just £4,327 was legal



LONDON: -- Facebook has insisted it is complying with the law despite paying under 6,000 euros in corporation tax in Britain last year.

According to its published accounts the social media giant paid £4,327 in company taxes after declaring an accounting loss of £28.5 million in the UK.

The amount is less than the tax paid by a single British worker on an average salary.

This came after Facebook paid £35 million in a share bonus scheme to its staff of over 360.

Globally it made profits of over 2.5 billion euros on revenue of 11 billion euros.

Commentators say the affair highlights loopholes in Britain’s complex tax code.

Several global companies have come under fire for tax avoidance.


-- (c) Copyright Euronews 2015-10-13

[whatproblem]

I pay more tax than that ,disgusting,

[klauskunkel]

It's kind of funny how "companies come under fire" for tax avoidance, but never governments for not fixing their tax codes.

Edited October 13, 2015 by klauskunkel

[godden]

Governments only waste the money they steal from people.

[stevenl]

Legal and just are not the same thing.

[John1012]

I am sure FB are 100% legal in their tax dealings in the UK. They would be stupid not to be. Stop whining about just and legal. If the treasury have any complaints then they should change the rules. Is it just that Marine 'A' is in prison for terminating a terrorist in Afganistan (possibly already dead?) , it is legal though.

[GAZZPA]

I have and enough of these companies using loopholes etc to avoid paying tax. They extract money from the economy and put jaff all back in and every single time the simple response is "well it was legal".

Well maybe it was and the loophole needs to be closed but what about morally right and wrong?

In these instances the UK government should step in, they are there to protect the people and work in the best interests of the country. This also goes for Tesco, the so called "king" of British retail avoiding tax over over the show,, and BHS and etc, etc,,

Time this stopped.

[shirtless]

The only problem i have with this , is its you and I who end up paying , not a good system and needs to be made fairer but i know this will never happen.

[tomross46]

Creative accounting. Facebook must have a very large budget for accountants and lawyers to ensure the tax are kept to the lowest.

[Jonmarleesco]

No one is disputing its legality, which is down to inane - or perhaps dubious - government corporate tax policies. That doesn't make it right.

[Jonmarleesco]

I have and enough of these companies using loopholes etc to avoid paying tax. They extract money from the economy and put jaff all back in and every single time the simple response is "well it was legal".

Well maybe it was and the loophole needs to be closed but what about morally right and wrong?

In these instances the UK government should step in, they are there to protect the people and work in the best interests of the country. This also goes for Tesco, the so called "king" of British retail avoiding tax over over the show,, and BHS and etc, etc,,

Time this stopped.

'... the UK government should step in, they are there to protect the people and work in the best interests of the country ...' They are politicians. The only time they talk of the country's best interests is when a G.E. is imminent. Otherwise, it's their best interests that take precedence.

Edited October 13, 2015 by Jonmarleesco

[seancbk]

I see nothing wrong with using the law to keep your tax as low as possible.

If you are in a position where you can't then that is just unlucky.

But for people who can set-up accounts in private banks and create trust funds etc it makes sense to use every legal means to reduce paying tax.

[uksomchai]

Only an idiot pays more tax than the law says they have to. I don't understand which part of this people are having trouble understanding. It is for the politicians to set how much tax a company pays not morals. Why is it morally right in the first place to be taxed at each and every opportunity any way ? If people are upset abut Facebook paying so little tax I suggest they drop their MP a line about it. Moaning, whining and whinging isn't going to change anything

[Exsexyman]

I have and enough of these companies using loopholes etc to avoid paying tax. They extract money from the economy and put jaff all back in and every single time the simple response is "well it was legal".

Well maybe it was and the loophole needs to be closed but what about morally right and wrong?

In these instances the UK government should step in, they are there to protect the people and work in the best interests of the country. This also goes for Tesco, the so called "king" of British retail avoiding tax over over the show,, and BHS and etc, etc,,

Time this stopped.

'... the UK government should step in, they are there to protect the people and work in the best interests of the country ...' They are politicians. The only time they talk of the country's best interests is when a G.E. is imminent. Otherwise, it's their best interests that take precedence.

This is the real scandal of course, the fact that all this is perfectly legal. But you will have a long wait if you expect the Government to step in to protect the best interests of the country when the Chancellor, George Osborne and his family take full advantage of the loopholes in place. Prime Minister Cameron's family fortune was built on setting up tax havens in the Caribbean. Meanwhile millions of Britons rely on food banks, latest figures suggest that 1 in 3 families are living below the breadline, incredibly up to 60% of them are working, but being paid poverty wages. Meanwhile our politicians are fiddling their expenses, indulging in the practice of 'rent swapping' etc etc. And Facebook pay just 4,327 quid in corporation tax. It is an absolutely shameful reflection on the priorities and values of those who govern us with such arrogance and contempt. Sadly, too many people are quite happy to support them, and keep voting for more of the same from these charlatans.

http://www.channel4.com/news/george-osborne-family-business-6m-deal-with-offshore-firm

http://order-order.com/2012/10/18/revealed-how-mps-are-rent-swapping/

[cookee68]

It's kind of funny how "companies come under fire" for tax avoidance, but never governments for not fixing their tax codes.

Because half of them are in the same game as Facebook