Palantir’s soaring revenue forecast—aiming for $8 billion globally—has sent its shares skyrocketing, fueled by major public sector deals. But beneath the headlines lies controversy: the company paid just over £2 million in UK corporation tax on £25 million in profits, with a global effective tax rate of just 1.4%. Critics accuse it of exploiting accounting loopholes, especially as it books UK revenues in the US and uses share options to shift tax burdens. Trade unions demand tech giants pay their fair share, especially when they profit from government contracts. Palantir insists it follows all local tax rules and that transfer pricing is standard practice, even noting that employee share options may ultimately lead to higher overall tax collection through income taxes.
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