AFP, London :
Facebook paid œ4.17 million ($5.18 million, 4.63 million euros) in British corporation tax last year, up from just œ4,327 in 2014, accounts showed Sunday.
The sharp increase reflects how the US technology giant has changed the way it records advertising revenues following public criticism.
It began declaring sales from its top British clients in Britain rather than Ireland, where it has its European headquarters-and where corporation tax is lower.
However, the tax paid is still only a fraction of the œ211 million revenues that Facebook reported in Britain last year.
“We are proud that in 2015 we have continued to grow our business in the UK and created over 300 new high-skilled jobs,” a company spokesman said.
Facebook paid œ4.17 million ($5.18 million, 4.63 million euros) in British corporation tax last year, up from just œ4,327 in 2014, accounts showed Sunday.
The sharp increase reflects how the US technology giant has changed the way it records advertising revenues following public criticism.
It began declaring sales from its top British clients in Britain rather than Ireland, where it has its European headquarters-and where corporation tax is lower.
However, the tax paid is still only a fraction of the œ211 million revenues that Facebook reported in Britain last year.
“We are proud that in 2015 we have continued to grow our business in the UK and created over 300 new high-skilled jobs,” a company spokesman said.
