Don’t be surprised if this becomes a thing. Twitter’s “retained profits” last year in the UK came to just Pounds 92,408 — about $137,500. Some in Britain speculate that the piddly amount reflects some clever accounting, namely routing revenue through Ireland, where tax rates are much lower. If that’s the case, then the UK is unlikely to let it slide. Google has drawn loads of criticism for using Ireland to skirt British taxes, and Amazon has received similar complaints for its use of Luxembourg.
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Twitter's Minute UK Profit Filing Draws Attention - Ire Likely Next
Posted by: David Vranicar July 8, 2013 03:43 PMDon’t be surprised if this becomes a thing. Twitter’s “retained profits” last year in the UK came to just Pounds 92,408 — about $137,500. Some in Britain speculate that the piddly amount reflects some clever accounting, namely routing revenue through Ireland, where tax rates are much lower. If that’s the case, then the UK is unlikely to let it slide. Google has drawn loads of criticism for using Ireland to skirt British taxes, and Amazon has received similar complaints for its use of Luxembourg.