Facebook published its 2017 accounts in the UK, showing that its tax bill had risen to £17m after it had changed its structure to book more revenues onshore. However, as Taxwatch director George Turner told the Independent, Facebook’s real profits in the UK are likely to be much higher.
TaxWatch launches new report illustrating the damage that a lack of regulatory oversight causes taxpayers seeking help to comply with their obligations & advocating for urgent widespread reform.
The latest report from the Public Accounts Committee (PAC) paints a concerning picture of tax evasion in the UK retail sector. It highlights significant gaps in enforcement, underestimated scale of evasion, and a worrying decline in prosecutions. The report raises significant concerns about HMRC’s seemingly incurious approach to the scale of tax evasion.