YHOO,FB: U.S. tech giants enjoy U.K. "tax bonanza"

U.S. tech giants enjoy U.K. "tax bonanza" • 2:07 AM

• Seven major U.S. technology companies paid just £54M in U.K. corporate tax in 2012 - the last year for which figures are available - despite raking in combined sales of $15B (£9.13B), the FT reports.
• The tax paid by Microsoft (MSFT), eBay (EBAY), Yahoo (YHOO), Facebook (FB) and Apple (AAPL) fell, while that of Amazon (AMZN) and Google (GOOG) rose.
• The report comes amid efforts in the U.K. and elsewhere to stop multinational corporations from exploiting what one British legislator described as a "tax bonanza" by using low-tax jurisdictions such as Ireland, Switzerland and Luxembourg to keep their payments at minimal levels.

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