Facebook will pay millions more in UK tax as it is revealed that the revenue from the largest advertisers comes through the kingdom and not Ireland.
Thus the social media company will pay more to the UK after ‘approving fundamental changes to its corporate structure in Europe.’
Starting in April, the world’s largest social network will change its policy so that revenue generated from its largest advertisers displaying content on Facebook will be routed through the UK rather than Ireland. The change is expected to generate higher taxable profits in Britain and forms part of the US company’s plan to mitigate criticism of tax avoidance, foreign media reported.
“On Monday we will start notifying large UK customers that from the start of April they will receive invoices from Facebook UK and not Facebook Ireland,” the company said in a statement.