acebook’s UK arm ended 2015 with an £11.3m credit to offset against future tax payments just months after vowing to contribute more to the Exchequer.
Despite reporting a worldwide profit of $6.19bn (£4.97bn), accounts for the social network’s British holding company show that it ended the year with a £11.3m tax credit, compared to a charge of £4,327 in the prior year.
Although Facebook UK did pay £4.17m in corporation tax for the year to December, accounts just filed at Companies House show that it ended 2015 in credit thanks to accounting rule changes.
Source: www.telegraph.co.uk
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