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Cmon. They have a huge engineering office there bringing in massive amounts of tax revenue already. UkGov doesn’t want to chase off 1000x employees bringing i
by gorgoiler 5y ago
Cmon. They have a huge engineering office there bringing in massive amounts of tax revenue already. UkGov doesn’t want to chase off 1000x employees bringing in £100M of income tax revenue. FB’s VAT on ad sales in the UK is probably only £500m.
- funshed 5y agoFacebook paid just £28.5m in UK corporation tax in 2018, despite record £1bn in UK Sales.
- gorgoiler 5y agoOnce again, cmon. Facebook has a significant and legitimate cost centre in Menlo Park, CA. As in, sure, FBUK sell ads, but the value is backed by a 4billion eyeball set of social networks that didn’t just build themselves.
- joshuaissac 5y ago> FB’s VAT on ad sales in the UK is probably only £500m. It is probably closer to £0. VAT is only chargeable on non-business ad sales. Where a Facebook does pay VAT for a sale to a business, that cost is passed on to the buyer, which can claim it back from HMRC. The exception being very small businesses that are below the VAT registration threshold.