Facebook's UK tax bill rises to £15.8m – but it is still just 1% of sales
by Rupert Neate Wealth correspondent from Technology | The Guardian on (#40CD6)
Margaret Hodge MP says it is 'outrageous' how little tax the company pays in Britain
Facebook paid 15.8m in tax in the UK last year despite collecting a record 1.3bn in British sales.
The social media giant's accounts show that while Facebook increased its UK income by more than 50% in 2017, its pre-tax profits increased by only 6% to 62.7m. The Silicon Valley-based company's UK taxable profits were reduced by a 444m charge for unexplained "administrative expenses".
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