Profits on social media app surged by more than 50% to £797m in latest tax year
Facebook’s UK operations paid £28m in tax last year despite attracting a record £1.6bn in British sales.
The social media company’s latest UK accounts show that gross income from advertisers rose almost 30% last year to £1.65bn, and pretax profits surged by more than 50% from £63m to £97m.
Continue reading...‘Fragmented’ system inadequate to prevent influx of dirty money, says Treasury committee
Hundreds of billions of pounds could be being laundered through the UK every year, but the government is unable to give a precise figure of the scale of the problem, MPs have found.
In a report on economic crime, the Treasury committee said the scale of the problem in the UK was very uncertain, with estimates ranging from tens of billions of pounds upwards.
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