Mark Zuckerberg’s Facebook has taken advantage of the British Exchequer tax rules and claimed a massive tax credit. How will all the liberals feel about one of their own taking advantage of the rules in Britain? The credits, eleven million British Pounds, or about $13.6 million dollars, are perfectly legal and as the laws are written. Sounds like the same good management that Donald Trump uses.
As Written By James Quinn for the Telegraph:
Facebook’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 global 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.
The disclosures are likely to reignite the row over the amount of tax paid by large US multi-nationals in the UK, following recent comments on the subject by the Prime Minister.
The credit is the result of Facebook being able to offset some ….
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