I was just searching on internet about creating an app in Facebook and suddenly I stopped at some interesting sites and videos, which said that Facebook is not paying even a penny for taxes to federal and state. What? Don’t be surprised.

Facebook do not pay any taxes at all

You may know that Facebook is situated in Britain. The billion dollar company is not paying any money as taxes as well as they are getting refunds from the previously given taxes from the Government. The pre-tax profits got by Facebook are close to $1.1 BILLION in 2012. The Company said that it had received excess tax benefits from the government of $1.03 billion. Mainly they received these amount of money from equity awards.

The statistics related to the tax returns and amounts related to tax is given in the website of Citizens for Tax Justice, an advocacy group based in Washington, USA. Facebook officials has not been commented on these numbers provided by the Citizens for Tax Justice.

How Facebook earns makes money?

Facebook earns money by selling ads in the website from advertisers all over the world. According the statistics Facebook has made about 64 million dollars in the fourth quarter of 2012. Facebook has received 429 million dollars as refunds from the government.

Some people says that this tax avoidance or evasion is just normal to survive in the stock market and the market. The important thing to note that they are exploiting the loopholes of the system when they can pay enough. The taxation system existing in the United States needed to be modified and reformed and the existing tax laws and policies need to re-framed for making them pay the existing taxes. The giveaway of the day by Obama Government to the corporate giants are huge and all these money are coming from the pockets of the poor citizens only.

 Huffingtonpost has emailed Facebook officials about this issue and according to their post which is listed in the below sites list, they didn’t get any replies.

It is not been Facebook alone, Apple, Amazon, and Starbucks also are avoiding huge taxes. The politicians are actually being silent about this issue and these corporate giants are overcoming the regulations made by the Government and the HM customs.

Get more details in the following site:
You can get the statistics from this link ctj.org and huffingtonpost.com






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