0
Wireless

Facebook winds down Irish holding construction, to move IP assets back to US

Monday 28 December 2020 | 09:06 CET | News
Facebook has moved one of its most important intellectual properties out of Ireland, ending a financial arrangement used to move billions in profits through the country largely untaxed, The Times reports. According to documents from the Irish Companies Registration Office seen by the British paper, Facebook is winding up several Irish holding companies used to hold its IP for international sales. The company has also shifted billions of euros in profits from its Irish holding company back to the US.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Internet / Mobile & Wireless
Companies: Facebook
Countries: World
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

G7 reaches agreement on minimum tax for internet multinationals

Published 07 Jun 2021 09:24 CET | World
The G7 group of the richest nations in the world has reached a preliminary agreement on implementing a minimum tax rate for large ...

Facebook takes first compliance officer from ViacomCBS

Published 29 Jan 2021 16:47 CET | World
Facebook has hired Henry Moniz to be its first compliance officer, as it faces scrutiny from regulators and lawmakers, Reuters ...

Facebook lifts revenues 33%, profit 53% in strong end to 2020

Published 28 Jan 2021 09:48 CET | World
Facebook reported a strong end to 2020, propelled by ad revenues benefitting from the lockdown-induced shift towards online ...

Facebook pays EUR 34 mln to settle back taxes in Spain - report

Published 28 Dec 2020 09:28 CET | Spain
Facebook has finalised an agreement with Spanish tax authorities to pay EUR 34.4 million in order to settle corporate tax claims ...

Facebook stopt met fiscale constructie via Ierland

Published 28 Dec 2020 08:02 CET | World | Update: 28 Dec 2020 09:27 CET
Facebook heeft een paar Ierse afdelingen opgeheven, die werden gebruikt in fiscale constructies om belastingen te vermijden, zo ...

Facebook pays over EUR 100 mln to settle back taxes in France

Published 24 Aug 2020 14:52 CET | France
Facebook has agreed to pay over EUR 100 million in back taxes in France for income generated in the country before 2018, ...

Facebook doubles profit on strong growth in user numbers during Q2, sees pressure for ad revenue

Published 31 Jul 2020 11:37 CET | World
Meanwhile, ad revenue in Q3 is expected to stay at the 10 percent growth level recorded in Q2 and the year before. This comes ...

Big five tech firms avoid UK tax of over GBP 1 billion in 2018 - study

Published 10 Feb 2020 12:00 CET | United Kingdom
The top five technology companies operating in the UK - Google, Cisco, Facebook, Microsoft and Apple - paid a combined total of ...

Facebook grows profit 7% in Q4 after sharp rise in operating costs, taxes

Published 29 Jan 2020 22:52 CET | World
Facebook reported a stronger increase in costs than revenue in the fourth quarter, leading to a slowdown in its profit growth. ...

Facebook Ireland paid EUR 63.2 million in corporation tax last year

Published 27 Nov 2019 11:48 CET | Ireland
Facebook said that profits at its Irish subsidiary, Facebook Ireland, increased 43 percent to EUR 361.3 million last year, on ...

Facebook may face USD 5 bln tax bill in US over Irish assets

Published 29 Jul 2016 09:05 CET | Ireland
Facebook announced that it received a 'notice of deficiency' from the IRS, the US tax authority, over its transfer pricing with ...

IRS wants Facebook documents about Ireland asset transfers

Published 08 Jul 2016 09:27 CET | United States
US tax officials want Facebook to hand over the records covering the transfer of its assets to Ireland in 2010 because they ...