Bloomberg Businessweek has informed that Facebook social network will not pay a cent of taxes to the USA for its transactions during 2012.
Thus, according to relevant data, Facebook social network, managed by Mark Zuckerberg, will not pay tax charges to the states of its employees’ operation. In addition, according to one public organization, which follows the company’s financial position reporting, Facebook may receive about 429 mln. dollars from American tax authorities.
The owner of Facebook social network Mark Zuckerberg has the right not to pay tax charges, for such company as Facebook may treat the sum of compensation to its employees, which is provided in the form of options for purchasing the company’s shares, as expenditure, which, in its turn, reduces the company’s profitability.
Facebook official representative preferred withholding comments on Facebook tax reporting, as informed by the Analytics Team of the “Market Leader”.
Zuckerberg Dodges from Taxes not Only in USA
Let us admit that some time ago Great Britain has accused Facebook and several other transnational corporations of systematical avoidance of taxpaying at full scale. Thus, during the last meeting of the heads of G20 financial union British representatives have suggested taking certain measures in order to stop such practice of transnational corporations.
According to Guardian information agency, Facebook social network dodges from paying taxes in Great Britain. Having received the total revenue of 800 mln. British pounds (1.28 bln. US dollars), the company has paid about 2.9 mln. British pounds of taxes. Thus, Facebook uses its subsidiary company in Ireland in order to pat tax charges, for here the tax rate is lower than in the United Kingdom.
“Actions of Facebook social network fully correspond to all current corporative norms, including tax charges,” stated Facebook social network representative.
According to relevant data, last year Irish branch of Facebook social network has put into its offshore about 440 mln. British pound sterling. “As stated by Business Insider, in such a way Mark Zuckerberg has managed to considerably reduce the tax burden, which amounts to about 40 percent of earned revenue,” informed the Analytics Team of the “Market Leader”.
The share of the founder and CEO of Facebook Mark Zuckerberg has increased from 28.1 to 29.3%. Since the beginning of 2013 Facebook shares have been increasing in value, and at this point cost per share exceeds 28 dollars. Therefore, Zuckerberg’s holdings may be assessed as over 17.7 bln. dollars, as explained by the analysts of Tusar FX broker company (is in the TOP of rating of forex brokers ):
Government Authorities Want to Receive Much Higher Taxes from Large Transnational Corporations
Last year the volume of means dodged from taxation increased by one half. In the majority of cases non-payment of taxes concerns transnational corporations, as stated by British Revenue and Customs.
Thus, by the end of last year in the UK large corporations have concealed about 1 bln. pound sterling from the Tax Service. In this reference, since March 2011 the volume of concealed means has increased by about 48 percent. At that time, this figure used to amount to about 680 mln. pounds sterling, as stated by the experts of the “Market Leader”.
In order to conceal earnings and avoid fair taxes large transnational corporations resort to legal or half-legal means, which include holding money transitions between departments on false basis.
It is worth mentioning that similar discontent is also expressed by French government. Thus, French government is discontented by the fact that large-scale internet corporations gain enormous profit from contextual advertizing, but fail to pay the corresponding tax for it.
