Facebook to overhaul UK tax structure, will pay 'millions of pounds' more: BBC

Reuters News
Posted: Mar 04, 2016 4:24 AM

LONDON (Reuters) - Facebook <FB.0> is to restructure the way it pays tax in Britain, meaning it will pay "millions of pounds" more to the Treasury, BBC TV reported on Friday.

The BBC said that following criticism of its current tax arrangements, the global tech giant would pay tax on profits generated from advertising revenue initiated in Britain instead of routing sales through Ireland for its largest advertisers.

Facebook was not immediately available to comment.

(Reporting by Michael Holden; Editing by Paul Sandle)