Odd Things – Tax Paid by Giant Corporations

Starbucks, Google, Facebook, Vodaphone, Barclays and other multinationals pay no or very little corporation tax on the profits of their enterprises in the United Kingdom. This is because they do not make profits in the United Kingdom, for corporation tax is paid on the profits of corporations. Nevertheless they turnover billions of pounds in the United Kingdom but make technical losses here and therefore have no corporation tax liabilities. Continue reading