We sure do love a legal loophole don’t we? This week’s culprit is everyone’s favourite social media channel of course. Damn Facebook, at it again with the tax dodging.
No it’s not nothing to do with the data scandal (they were cleared of that at the end of last year), this time it’s yet ANOTHER tax scandal. Since 2013, the social network hasn’t been out of the news and not for the good reasons. Alongside Starbucks, Amazon and Google, Facebook has been paying a pittance whilst us mugs pay what is owed each month and year. Laughable eh? Facebook is literally running rings around the tax man and getting away with it. I wonder if we would get away with doing the same?
No, it’s not Jammy Dodgers, we’re chatting Tax Dodgers
Just last week, this announcement hit the headlines and blew us all away – how can Facebook be getting away with paying such a small amount in tax!? £4,327 for the whole of 2014 to be exact. And what makes this situation even more random? A year later in 2015, HMRC (you know the guys who chased you for the 7p you owed 12 years ago, the same guys who credited you a rebate to later retract it saying they ‘made a mistake’) paid a whopping £27,000+ on Facebook ads. Oh the irony.
Targeted at the everyday worker (yeah you and I are the mugs) as a reminder to pay the tax we owe, hello, should HMRC consider changing their advertising strategy much!? We think so…
Taking into consideration the average UK salary of £26,500, the average worker pays more tax in a year than Facebook (£5,593 paid by the average worker in comparison to the £4,327 paid by Facebook). I wish we could make £105 million (x 5 as experts have speculated) in revenue and pay only a tiny fraction of it back in tax.
Oh, we were just day-dreaming what we could buy with all that dollaaaa! Back on to the more important matter. What’s crazier is Facebook is actually getting away with tax dodging and are legally doing so by setting up camp in Ireland – somebody somewhere misjudged how smart Zuckerberg is that’s fo’ sho’.
You might not hear from us for a while. We’ve decided to pack up and move to Ireland – home of the four leaf clover as it’s so lucky eh? We’re setting up there where we will live like Cayman Kings – sadly without the sweltering heat. Well, until we’ve saved up our tax money to get there. Oh how one can dream…