Facebook paid $5.16 million in UK taxes last year, 1,000 times what it paid in 2014

Facebook paid $5.16 million in UK taxes last year, 1,000 times what it paid in 2014

The Verge

Facebook paid £4.16 million ($5.16 million) in UK corporation tax last year, the company revealed on Sunday, a huge increase on the paltry £4,327 (around $5,367 at current exchange rates) it paid the year before. The company's accounts show a turnover of £210 million, and a taxable profit of £20 million, on which it paid standard UK corporation tax rate.

While technically compliant with UK tax laws, Facebook's payments drew criticism from campaigners and politicians, who complained that the billion-dollar company was shirking its moral responsibility to pay tax in countries that it did business in. The criticism prompted Facebook , changing its policy so it counted UK ad sales as taking place the...

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