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Palantir paid about £2m UK corporate tax in 2024 despite MoD NHS work
The company’s CEO forecast worldwide revenues of almost $8bn this year, while a report cited an effective global tax rate of 1.4% and said it paid no federal taxes in the US last year.
Palantir paid about £2m in UK corporation tax in 2024, even though it holds public sector contracts for work tied to the NHS and the Ministry of Defence, according to an analysis cited by the Guardian Business.
The outlet reported that Palantir forecast worldwide revenues would almost double this year to $8bn, and said the shares jumped 17% in early trading after CEO Alex Karp made the projection.
The article also cited a report by the Centre for International Corporate Tax Accountability and Research, commissioned by the trade union Unison, which estimated Palantir’s effective global tax rate at 1.4%. It further said Palantir paid nothing in US federal taxes last year and just over $2.5m in state taxes.
In the UK, where the company declared £247m of revenues for 2024 and has about 750 employees outside the US, the Guardian Business added that Palantir has a three year £240m Ministry of Defence contract awarded last December and holds an estimated £670m in government contract value as of 2026.