France: TikTok revenues up 50%
January 4, 2024
From Pascale Paoli-Lebailly in Paris
Social media platform TikTok registered a €44.3 million turnover in France in 2022, and a 49.7 per cent growth over one year. In 2020, the company posted just €2.5 million revenues.
According to French press reports, TikTok, just three years after its launch in the country, is now competing with established DTT media groups such as channel NRJ 12 – which posted a €46.9 million turnover in 2022.
Accounts seen by l’Informé reveal, however, that from a tax receipt point of view, TikTok is credited with a €3 million profit, but paid no more than €1 million in corporation tax.
Such a weak tax level is explained by the fact TikTok major revenues aren’t monetised in Paris, but in Dublin (Ireland), where European structure TikTok Technology is based. Other tech giants such as Google or Meta are acting the same, choosing headquarters and head offices outside major capital cities for fiscal reasons.
But in comparison to other social networks, TikTok stands out for its very rapid growth in the French market. For fiscal authorities, this expansion which isn’t representative of the group contribution to the domestic economy.