"Tax Avoidance Tactics Exposed: Palantir's £2m UK Tax Bill Sparks Outrage A bombshell revelation has emerged about the US-based software giant Palantir, which has been awarded lucrative public sector contracts worth hundreds of millions in the UK alone. Despite its massive profits, the company has managed to pay a mere £2m in corporation tax in 2024, sparking widespread criticism from union bosses and tax experts. The key to Palantir's tax avoidance strategy lies in its use of global systems and accounting practices that exploit loopholes in international tax laws, allowing the company to minimize its contributions to governments worldwide. As Palantir continues to grow exponentially, fueled by its AI-powered services to the NHS and Ministry of Defence, concerns are mounting about the fairness of its tax arrangements and the implications for public finances."
Software group benefits from global systems and accounting practices ‘that enable tax to be shirked’, says union bossThe software group Palantir paid just £2m in corporation tax in the UK in 2024, despite holding public sector contracts worth hundreds of millions, thanks to tax breaks that are likely to reduce its contributions to governments around the world for years to come.The US-headquartered company, which has harnessed AI to secure lucrative work for the NHS and the Ministry of Defence, is growing exponentially. Continue reading...
