The taxes for Facebook in England are extraordinarily small, as the social networking website only had to pay a little over $6,100 to the British tax agency of HM Revenue and Customs this year.
It’s only a slight increase from last year, when Facebook paid just over $4,800. However, that figure was reduced because of tax credits.
In 2012 the company did not pay anything in corporation taxes. This resulted in the anger of critics, who claimed that many technology companies were utilizing legal loopholes to avoid paying taxes in the United Kingdom.
The latest filings from Facebook show that the company lost nearly $44 million before taxes were applied. Facebook has attributed this loss to a higher payment charge per company share.
Meanwhile, the number of staff members in Facebook’s British unit has more than doubled since 2013. This is because of a major growth in Facebook’s engineering division. At the end of 2014, Facebook had more than 500 employees in Great Britain.
Facebook was founded in 2004 by Mark Zuckerberg and a team of his fellow classmates at Harvard. The social networking website had its initial public offering in 2012, at a share price of $38. At the time, it set a record for the most heavily traded company on the day of its IPO.
The company recently announced that it would be making changes to user profiles in order to make them display better on mobile phones. Additionally, Facebook users will soon be able to utilize a short looping video as their profile picture.
Currently, Facebook has more than 1.4 billion users worldwide. The company has more than 10,000 total employees. It is the second most popular website in the world, as only Google receives more traffic than the major social networking website.
Shares for the company are currently in the mid $90s.
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