Spotlight on Facebook's tax affairs

AOL Money Staff
Facebook logo reflection
Facebook logo reflection

Jochen LÃŒbke/DPA/Press Association Images

Facebook is the latest firm to come under scrutiny over its tax affairs after reportedly siphoning £440 million into an offshore haven to avoid payments in the UK and other overseas markets.

The social networking giant paid £2.9 million of corporation tax - including less than £240,000 in Britain - last year despite making more than £800 million in overseas profits in 2011, according to The Sunday Times.