Facebook in the UK paid just £4,327 corporation tax last year

[singular_me]

meanwhile the CEO is a multi-millionaire if not billionaire
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Facebook in the UK paid just £4,327 corporation tax last year
12th October 2015

http://www.davidicke.com/wp-content/uploads/2015/10/Untitled-112.jpg

Outrage as it's revealed Facebook paid just £4,327 corporation tax last year - less than a UK worker on £26,500 salary pays

Company paid little corporation tax despite £105million revenue
£4,327 figure is less than £5,393 paid by worker on UK's average salary
Facebook understood to move British takings through Irish company
Company has been criticised time and again for tax arrangements

11 October 2015

The company’s 362 UK staff took home an average of £210,000 in pay and bonuses last year, according to its latest accounts.

Facebook’s British arm was able to slash its tax bill by reporting an accounting loss of £28.5million last year, having handed out £35.4million to its workers through a share bonus scheme.

This scheme was worth more than £97,000 on average for each member of staff, the company accounts show.

In contrast to Facebook’s tax payment of £4,327, a single worker on the average UK salary of £26,500 would be liable for £3,180 in income tax and £2,213 in national insurance contributions – a total of £5,393.


Read more: http://www.dailymail.co.uk/news/article-3268282/Facebook-paid-5-000-corporation-tax-Exchequer-year-s-British-worker-earning-average-26-500-wage-pays.html#ixzz3oOvS3HDH

[Ares]

That's easy to explain. Facebook DOES NOT MAKE A PROFIT.


meanwhile the CEO is a multi-millionaire if not billionaire

In stock price, but not readily available liquid assets. There is a big BIG difference to net worth and liquid assets.

With all that said... Taxation is theft.

[Cebu_4_2]

It is hard to imagine if you never own a corporation.

All costs are deducted from income. If costs are larger then income the corporation takes a loss. Meanwhile as the owner I still get paid...

[Glass]

Taxation is theft.

I would change that to day Personal Taxation is theft. Corporations should pay tax on income and should not be able to use transfer pricing and other techniques to minimize tax.

The main reason the average joe is paying tax is because they have been converted into a type of corporation - a franchise.

So basically the Corporations have had a new form of corporation created en masse called "Persons" and then directed tax collection efforts against those corporations, leaving themselves free and clear from tax.

Pay tax or have your trading license suspended. That would be my position. I don't need apple if it won't pay tax for example.

[Neuro]

It is hard to imagine if you never own a corporation.

All costs are deducted from income. If costs are larger then income the corporation takes a loss. Meanwhile as the owner I still get paid...
Facebook UK didn't make a loss though, they just transferred their profit to a country (in this case Ireland), and booked that transfer as a cost, and there they pay less tax on profits. Globalist corporations always win...

[Neuro]

meanwhile the CEO is a multi-millionaire if not billionaire
---------------------------------------------

Facebook in the UK paid just £4,327 corporation tax last year
12th October 2015

http://www.davidicke.com/wp-content/uploads/2015/10/Untitled-112.jpg

Outrage as it's revealed Facebook paid just £4,327 corporation tax last year - less than a UK worker on £26,500 salary pays

Company paid little corporation tax despite £105million revenue
£4,327 figure is less than £5,393 paid by worker on UK's average salary
Facebook understood to move British takings through Irish company
Company has been criticised time and again for tax arrangements

11 October 2015

The company’s 362 UK staff took home an average of £210,000 in pay and bonuses last year, according to its latest accounts.

Facebook’s British arm was able to slash its tax bill by reporting an accounting loss of £28.5million last year, having handed out £35.4million to its workers through a share bonus scheme.

This scheme was worth more than £97,000 on average for each member of staff, the company accounts show.

In contrast to Facebook’s tax payment of £4,327, a single worker on the average UK salary of £26,500 would be liable for £3,180 in income tax and £2,213 in national insurance contributions – a total of £5,393.


Read more: http://www.dailymail.co.uk/news/article-3268282/Facebook-paid-5-000-corporation-tax-Exchequer-year-s-British-worker-earning-average-26-500-wage-pays.html#ixzz3oOvS3HDH
Another thing is the share-bonus program. Facebook gave 35.4 Million £ to its workers as bonuses, most likely in shares, which Facebook UK most likely bought from Zuckerberg. In a country where he doesn't have to pay tax on his profit selling the shares. Thus he gets around $50 millions tax free, the bonus program gives Facebook UK a cost, reducing their profit. Zuckerberg gets rid of his overvalued shares without much of a negative impact on share prices (probably the shares have to sit in an account for some time before they can be sold by the employee). He probably does this in every country...