Facebook paid peanuts in UK corporation tax

FacebookInternational tax shenanigans by multinational tech corporations have already provoked investigations by authorities in the UK and in Europe.

But now the BBC reports that Facebook made a pre-tax loss of £28.5 million last year and in contrast paid its 362 employees in the UK £35.4 million in share bonuses.

In the last financial year, Facebook reported fourth quarter profits in the USA of £2.9 billion, while it has around 1.39 billion people using Facebook now.

The BBC said that the amount of corporation tax paid by Facebook is less than the average UK salary of £26,500 – with people paying £5,392.80 in income tax and national insurance.

A representative from Facebook UK said that the company complies with UK law, and it’s clear that that is a fact.