Big five tech firms avoid UK tax of over GBP 1 billion in 2018 - study

News General United Kingdom 10 FEB 2020
Big five tech firms avoid UK tax of over GBP 1 billion in 2018 - study

The top five technology companies operating in the UK - Google, Cisco, Facebook, Microsoft and Apple - paid a combined total of GBP 237 million in taxes in 2018, an effective tax rate of only 2.9 percent on combined profits of GBP 8.1 billion from UK customers, according to new research from TaxWatch.

The analysis shows that the companies implement complex financial structures to move these profits offshore, and that the total amount of tax avoided by them is estimated at GBP 1.3 billion for 2018.

 

 

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General

Companies:

Apple,  Microsoft,  Facebook,  Google,  Cisco

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United Kingdom

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Data services, Security, Devices, Company, Services, Market, Financial figures, IT - applications, Consumer devices, Internet Access, Consumer, Client, Finance, Handsets, Government policy

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