Badoo Tax Bill Open to Investigation from UK Government
HM Revenue & Customs (HMRC) is set to open an investigation into Badoo, to look at its corporate tax payments from 2013 to 2016.
Executives at Badoo Trading Limited claimed that they were expecting an investigation. They also admitted that the examination will probably result in their tax affairs being adjusted.
Badoo’s accounts revealed that it owed £52,000 in tax in 2016, and paid auditors a total of £340,000 between 2016 and 2017.
Several technology companies have faced investigations from HMRC in the last few years.
Graham Poole, director of tax at Hogan Lovells, explained to the Telegraph: “HMRC has been ramping up its efforts in diverted profits tax and transfer pricing. It has made it quite clear there will be a renewed focus – going forward.”
World Vision, Badoo’s parent company, is based in Bermuda, a well-known ‘tax haven’.
Dominic is a reporter for Global Dating Insights. Originally from Devon, England he achieved a BA in English Language & Linguistics from The University of Reading. He enjoys a variety of sports and has a further passion for film and music.