Guess how much Facebook paid in U.K. corporation taxes for 2013? Hint: If your guess was a positive number, you were too high.
Business Insider reported that according to filings with the U.K.’s Companies House, Facebook continued to (legally) avoid paying U.K. corporation taxes by funneling its U.K. sales through its European headquarters in Ireland, where the corporation tax rate was 12.5 percent in 2013, compared with 24 percent in the U.K.
According to Companies House filings, via Business Insider, Facebook declared £49.8 million ($79.89 million) in U.K. revenue in 2013, up from £35 million ($58.75 million) in 2012, but the company posted an operating loss of £11.6 million ($18.6 million).
Business Insider added that Facebook avoided paying U.K. corporation tax on its loss for the year due to an £182,027 ($292,024) adjustment credit from previous periods.
Facebook attributed the bulk of its operating loss to compensation for its U.K.-based employees.
Readers: Are you surprised that Facebook once again (legally) paid no U.K. corporation tax?
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