The software group Palantir paid just £2M in corporation tax in the UK in 2024
Palantir paid only £2 million in UK corporation tax in 2024 despite holding significant public sector contracts and forecasting $8 billion in global revenue. A report by Cictar highlights the company's low effective tax rate, sparking criticism from labor unions.
Why it matters
The tax practices of major tech firms contracting with governments raise questions about corporate accountability and the funding of public services.
Palantir expects its worldwide revenues to almost double this year to $8bn (£5.95bn), its CEO has said. Palantir expects its worldwide revenues to almost double this year to $8bn (£5.95bn), its CEO has said. Palantir Palantir paid just £2m corporation tax in UK in 2024 despite lucrative public sector contracts Software group benefits from global systems and accounting practices ‘that enable tax to be shirked’, says union boss
Prefer the Guardian on Google The software group Palantir paid just £2m in corporation tax in the UK in 2024, despite holding public sector contracts worth hundreds of millions, thanks to tax breaks that are likely to reduce its contributions to governments around the world for years to come.
The US-headquartered company, which has harnessed AI to secure lucrative work for the NHS and the Ministry of Defence, is growing exponentially.
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