Facebook admits paying just £4m UK tax on £210m turnover
Boss Mark Zuckerburg, who's worth £44.4 billion, came under fire for 'undermining the spirit of the law' with the low rate of corporation tax
FACEBOOK was blasted today after admitting paying just £4.1 million in taxes on its £210 million UK turnover.
The social media giant — whose boss Mark Zuckerberg is worth £44.4 billion — reported its UK arm made a loss of £53 million last year.
That was partly down to its 682 staff being paid an annual average of £242,000.
Meg Hillier, who heads the Government’s Public Accounts Committee, told The Sun: “Once again ordinary taxpayers will be amazed at the difference between what they pay and what big corporations do.
“Even if they are abiding by the letter of the law, this low rate of corporation tax they are paying undermines the spirit of the law.”
The company’s accounts for 2015 showed the number of staff had almost doubled from 362 the previous year, and wages had risen from an average £210,000.
That meant total staff costs rose from £86.3 million to £165 million and took admin costs to £255 million.
On top were bills for “leasehold improvements, plant and machinery, computer equipment and assets in the course of construction”.
In 2014, Facebook was heavily criticised for paying just £4,317.
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The storm saw the firm volunteer to pay more, which it has done again in the 2015 returns.
A spokesman said: “We pay all the taxes that we are required to under UK law.
“We are proud that in 2015 we have continued to grow our business in the UK and created over 300 new high-skilled jobs.
“The UK is now home to some of the most innovative technologies in the world.”