Airbnb has come under fire after its first full accounts reveal the UK arm of the company paid corporation tax of ££1.4m ($391,000) on 317,000 profit for the 11 months to December 2015. Critics have accused the San Francisco-based firm, valued at £23bn, of exploiting Ireland's "favourable corporate tax regime" in a similar manner to Facebook and Google. A spokesperson for Airbnb said its UK arm processes international payments on behalf of its Irish HQ, and added: "We follow the rules and pay all the tax we owe in the places we do business."
Airbnb has come under fire after its first full accounts reveal the UK arm of the company paid corporation tax of £317,000 ($391,000) on £1.4m profit for the 11 months to December 2015. Critics have accused the San Francisco-based firm, valued at £23bn, of exploiting Ireland's "favourable corporate tax regime" in a similar manner to Facebook and Google. A spokesperson for Airbnb said its UK arm processes international payments on behalf of its Irish HQ, and added: "We follow the rules and pay all the tax we owe in the places we do business."