Fury as Facebook pays just £28m of UK tax despite record £1.7bn revenues

Telegraph 11 Oct 2019 04:41

Facebook has been blasted by MPs and experts after it paid just £28.5m of tax in Britain last year - despite sales surging to £1.7bn.

The social network, which is worth around $530bn (£420bn) and is thought to have more than 40 million UK users, has repeatedly come under fire from campaigners who believe it is legally gaming the system to minimise its tax bill.

MPs branded the sum "paltry" and demanded action to ensure the Silicon Valley titan was held to the same standards as firms based in Britain.Tax campaigner Margaret Hodge, a Labour MP and former chairman of the Public Accounts Committee who now chairs a Parliamentary group on responsible taxation, demanded a change of tack.

She said: “These big corporations simply must pay more tax. They rely on our infrastructure, our expertise, and our sales so they must pay their fair share into society. Outrageous."

Tom Watson, the deputy Labour leader, said the amount Facebook had paid in tax was "insulting". He said: "The least they can do is pay a fair amount of tax."

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FacebookUKTax Justice NetworkUnited StatesMargaret Hodge