Facebook Pays Astonishingly Little in Corporate Taxes

Facebook Hosts Conference On Future Of Social Technologies
SAN FRANCISCO - APRIL 21: Facebook founder and CEO Mark Zuckerberg delivers the opening keynote address at the f8 Developer Conference April 21, 2010 in San Francisco, California. Zuckerberg kicked off the the one day conference for developers that features breakout sessions on the future of social technologies. (Photo by Justin Sullivan/Getty Images)
Photograph by Justin Sullivan — Getty Images

Facebook’s corporate taxes don’t appear to match its large profits.

The company’s revenues in the U.K. in 2014 were around $1 billion. According to the Sunday Times, it paid just over $6,000 in corporate taxes. Though tax rates differ from country to country, the corporate tax rate in the U.K. is 21% for companies with profits of over $427,320, or £300,000. The $6,000 that Facebook (FB) paid is 0.0006%, and the Times reported that the social media giant resisted an investigation by the HMRC, the U.K.’s tax authority.

Globally, Facebook made about $3.4 billion in profits and paid about $122 million in corporate taxes, a rate of nearly 3.6%.

This news comes on the heels of a tax deal between Google (GOOGL) and the U.K. that has been criticized by tax experts and politicians for being too low, as Fortune previously reported. The HMRC announced that Google would be making a back payment of $190 million on profits made in the last decade, which amounted to over $10 billion.

Fortune contacted the company on Sunday for comment, and will update the article accordingly.

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