Facebook has decided to change its tax structure in order to pay more UK tax.
Quite what brought about this volte face is not clear (brand reputation possibly).
As per the BBC:
I wonder what Facebook expects to gain from this?"Facebook is set to pay millions of pounds more in tax in the UK after a major overhaul of its tax structure.After heavy criticism that it was avoiding tax, the BBC can reveal that profits from the majority of Facebook's advertising revenue initiated in Britain will now be taxed in the UK.
It will no longer route sales through Ireland for its largest advertisers.
That includes major businesses such as Tesco, Sainsbury's, consumer goods firm Unilever and advertising giant WPP."
The volte face is ironic, given that yesterday HMRC defined tax avoidance out of existence!
Tax does have to be taxing.
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