“Facebook is structured so that companies buying advertisements on the website in the UK, or anywhere outside of the US, have to pay Facebook Ireland. This allowed Facebook Ireland to make gross 2011 profits of £840m – or £3.1m per each of its 287 staff. Despite the high gross profit, Facebook Ireland was able to cut its tax bill to just €3.2m by using an accounting technique called the ‘Double Irish’. The manoeuvre allows multinationals to move large amounts of money to other subsidiaries in the form of royalty payments. Facebook moved nearly £750m to the Cayman Islands and its Californian parent in licensing and royalty payments.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Venezuelan President Maduro 'to expand price controls'
Health Premiums Up $3,000 Since Obama Vowed $2,500 Cut
Argentina’s primary elections: Bad dress rehearsal
An ‘aporkalypse’ has Texas fighting losing battle against feral pig menace
Walmart tells India it can’t buy enough local products for new supermarket
Rights groups challenge widespread Internet spying in France
The History of Hyperinflation
Colorado's Marijuana Legalization Campaign Goes To Court Over Deleted Text In Ballot Book
Arkansas Attorney General Won’t Let School Arm Teachers
New Jersey's Christie seen shifting focus in speech amid scandals
Who's Funding ISIS? Wealthy Gulf 'Angel Investors,' Officials Say
Four states hit record highs for home prices
Study: Companies from emerging markets will shape global economy in next decade
Massive anti-government protest gears up in Poland
Emerging market rout threatens wider global economy