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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