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Facebook Australia pays more tax in 2020 despite profit and revenue decline

Facebook Australia pays more tax in 2020 despite profit and revenue decline
ZDNet
2 hrs ago
© Nataliya Vaitkevich
Facebook Australia has reported after-tax profit for 2020 financial year slipped down to AU$17.7 million from last year s AU$22.7 million.
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Revenue came in at AU$155 million, slightly lower than the reported AU$167 million for the 2019 financial year. Of that, approximately AU$153 million compromised of online advertising sales. The remaining revenue came from services, which amounted to just under $2 million.
Despite a reduction in revenue, the Australian arm of the social media giant had a higher income tax expense this year than the previous year. The company footed a AU$20.2 million tax bill, up from the AU$16.8 million tax expense last year, off the back of AU$6.1 million in tax on share-based payments and an adjustment of AU$2.7 million for prior years. ....

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Facebook draws in $713m in ad revenue but will only pay around $20m in tax

Facebook draws in $713m in ad revenue but will only pay around $20m in tax
May 24, 2021 10:48
Facebook Australia has reported 2020 advertising revenue collected in Australia came to $712.66 million, up $3.2 million on 2019, however, only $155.34 million is taxable, down from $167.1 in 2019.
The gap in the revenue collected from advertising and the final tabled income is down to $559.02 million in “cost of sales – reseller expense” otherwise known as internal company costs. Facebook Australia is wholly owned by Facebook Global Holdings II, a US incorporated entity.
“The company acts as a reseller of advertising services to designated Australian customers through a reseller agreement with another group company and generates revenues primarily through resale of advertising inventory on Facebook,” stated the financial report. ....

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Facebook paga 34,4 millones en impuestos tras un pacto con Hacienda

Facebook paga 34,4 millones en impuestos tras un pacto con Hacienda
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