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: Viacom CEO's 2014 pay rises 19 percent to $44.3 million

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

NHL sends GoPro cameras onto the ice

Jan 23, 2015

Ice hockey fans will get a new perspective on the fast-moving game when National Hockey League players don GoPro cameras, starting with this weekend's all-star fixture.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.