Facebook Pays £29m Corporate Tax in the UK - California Observer

 


Despite reporting record-breaking sales of £3.3 billion, Facebook operations in the UK paid £29 million in corporation tax last year, and its average employee salary increased to $262,000 as a result.

According to the social media company’s most recent financial reports for its London-based division, gross advertising revenues increased by more than 37% in 2017 from £2.4 billion to £3.3 billion.

The second-largest participant in the UK digital advertising business behind Google is Facebook’s parent company, Meta, which also owns Instagram and WhatsApp.

According to its Companies House filing, Facebook UK reported pre-tax profits of £229.5 million last year. The company describes itself as a supplier of sales support, marketing services, and engineering support to the Meta Group. This was an increase of more than a fifth above the £190 million the company made in 2020...Read More

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