Oct 11, 2019

Facebook pays £28.5m in tax as revenues hit a record £1.65bn

Facebook's UK arm paid £28.5m in tax in 2018 as revenues hit a record £1.65bn on the back of strong advertising growth. Tech giants have been criticised for the amount of tax paid, but Facebook said it pays what is legally owed. Earlier this week, the Organisation for Economic and Development, proposed tax changes aimed at making global firms pay more tax. The proposals would give governments more power specifically to tax big technology firms such as Apple, Facebook and Google. The OECD's proposal includes new rules on where tax should be paid and on the proportion of their profits that should be taxed in each country.

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