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Palantir paid just £2.1m UK corporation tax in 2024

financeAug 5, 2026311,471

Palantir paid just £2.1m in UK corporation tax in 2024 despite declaring about £247m of UK revenue and just over £25m of profit, giving an effective UK tax rate of just over 8% when the headline UK corporation tax rate was 25%. A report by the Centre for International Corporate Tax Accountability and Research found Palantir’s global effective tax rate was 1.4% and that the company paid no US federal tax in 2024 and only about $2.5m in US state taxes. Researchers say Palantir shifts revenues and profits from European contracts to its US parent through transfer pricing: 26% of group revenue is sourced outside the US but only 4% is booked abroad. Palantir disclosed £159m of revenues in its UK company filings for 2024 while declaring £247m of UK revenues in its stock-market filings. The UK is Palantir’s biggest market outside the US, with about 750 of its non-US staff based in Britain and an estimated £670m of government contracts as of 2026, including a three-year £240m Ministry of Defence deal awarded last December without a competitive tender. Unison general secretary Andrea Egan said systems that enable large-scale tax avoidance must change, and Palantir said it complies with tax regimes in the jurisdictions where it operates; CEO Alex Karp forecast worldwide revenues would almost double to $8bn this year.

fife4europe #FBPE #RejoinEU
@fife4europe.bsky.social

Palantir hoovering up European defence and NHS contracts whilst funnelling earnings back to the US to pay negligible corporate tax is a complete failure of digital sovereignty. European states must stop enriching tech firms that drain public coffers. Is it time to ban them? #FBPE

65245d ago
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