12:27 10 October 2013
Despite taking an estimated £223m in revenue, Facebook paid no corporation tax in Britain last year.
Although its reported UK income increased by 70per cent, its tax dropped from £238,000 in 2011 to zero.
It is believed that vast majority of its UK income are processed in Ireland that is why it was able to avoid paying tax to UK last year.
Commons public accounts committee chairwoman Margaret Hodge has accused the social networking giant of “deliberate manipulation of accounts.” She added: "I am getting fed up of this constant stream of stories and little sign of a challenge from HMRC and a strange silence from Government.”
The Independent has reported that Facebook UK has only paid a total of £1 million in corporation tax since it opened its London office in 2007 even though it is estimated to have made over £500 million in sales in that time.
Meanwhile, a Facebook spokesman said: “Facebook pays all taxes required by UK law and we comply with tax laws in all countries where we operate”.
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