eBay pays £1.2m in British taxes on sales of £800m: report

Oct 21, 2012
Online auction giant eBay paid only £1.2 million ($1.92 million, 1.47 million euros) in tax to the British government despite generating £800 million in sales in the country, the Sunday Times reported.

Online auction giant eBay paid only £1.2 million ($1.92 million, 1.47 million euros) in tax to the British government despite generating £800 million in sales in the country, the Sunday Times reported.

The denied any wrongdoing.

According to the Sunday Times report, the internet firm notched up sales of £789 million during 2010 at its four British subsidiaries, generating an estimated profit of £181 million.

At the current rate of corporation tax, £51 million would be owed to the exchequer, but instead it received £1.2m, the report said.

The auction site told the BBC: " in Europe works with and complies fully with all applicable tax laws and regimes - including national, EU, and internationally recognised OECD rules."

The report comes days after it emerged that coffee chain Starbucks shifted profits from its £398 million worth of UK sales to its foreign subsidiaries in order to avoid paying any corporation tax.

Explore further: NBCUniversal settles with unpaid interns for $6.4M

add to favorites email to friend print save as pdf

Related Stories

French authorities probe Google's tax bill

Mar 20, 2012

French authorities are probing Google for potential tax avoidance, a source close to the matter said Tuesday, with the US Internet giant facing a possible bill of over 100 million euros ($132 million).

Recommended for you

NBCUniversal settles with unpaid interns for $6.4M

3 hours ago

NBCUniversal will pay $6.4 million to settle a class action lawsuit brought by unpaid interns who worked on "Saturday Night Live" and other shows who claim they are owed wages, according to court documents.

States ascend into the cloud

4 hours ago

Seven years ago, the state of Delaware started moving computer servers out of closets and from under workers' desks to create a consolidated data center and a virtual computing climate.

Microsoft drops Nokia name from smartphones

6 hours ago

Microsoft said Friday it was dropping the Nokia name from its Lumia smartphones, rebranding following the acquisition earlier this year of the Finnish group's handset division.

Amazon's loss makes holidays a question mark

6 hours ago

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast.

Ericsson profit down 10 pct despite higher sales

10 hours ago

Wireless equipment maker Ericsson says its third-quarter earnings slumped 10 percent despite higher sales due to increased operating costs and negative effects from currency hedging.

User comments : 0