Online auction enterprise eBay had a jolly time of it last year – the firm paid £1.6 million in UK corporation tax on total revenues of £1 billion in the country.
Well done, eBay! The company’s UK accounts show only £200m in revenue – which is all cool because it came from its parent firm, based in Switzerland, so everything’s legit, you see.
Now, eBay has, naturally, refused to discuss why the money it makes in the UK isn’t processed through its business in the UK – but it has said its tax activities are 100% legal, which I’m sure they are.
A spokesperson laughed: ‘In all countries and at all times, eBay is fully compliant with national, EU and international tax rules including those of the OECD, including the remittance of VAT to the appropriate authorities.’
The online car boot sale joins a number of high profile tech firms, such as Google, Facebook, Apple and so on, who enjoy excellent tax arrangements in Europe and beyond.
And on it goes.