Facebook said its main UK subsidiary generated an 11-million-pound tax credit in 2015 even as revenues soared, thanks to its tax efficient structure, accounts published on the weekend showed.
Analysts say Facebook generates hundreds of millions of dollars in revenue from UK clients each year but until this year all transactions were booked in Ireland, minimizing the social media group’s UK tax bill.
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Time For Truth: (Reuters) – Facebook reports 11-million-pound UK tax credit as revenues soar
The U.S. government wants to intervene in an Irish court case that has already disrupted the transatlantic flow of European Union citizens’ personal information on which many businesses rely.
And one of the parties to that case, Austrian Facebook user Max Schrems, is looking forward to the opportunity to have U.S. authorities questioned under oath on a matter that could determine the future of European privacy law.
Donald Trump has dismissed climate change as a “hoax”, whilst at the same time attempting to build a sea wall to protect his golf course in Ireland from “global warming and its effects”.
Mr Trump, now the presumptive Republican presidential nominee, has long publicly asserted that “nuclear weapons” are a bigger threat to the climate than increases in the earth’s temperature.
Facebook is set to pay millions of pounds more in tax in the UK after a major overhaul of its tax structure.
After heavy criticism that it was avoiding tax, the BBC can reveal that profits from the majority of Facebook’s advertising revenue initiated in Britain will now be taxed in the UK.
Phil Gawne, the transportation minister on the Isle of Man, is working 16-hour days on two projects rooted in radically different eras.
First, he’s trying to salvage the island’s horse-drawn carriages that date to 1876. At the same time, Gawne is leading a project to potentially lure companies that make fully self-driving cars, vehicles without steering wheels or pedals.