Facebook shuts down Irish affiliates for tax reasons

Facebook shuts down Irish affiliates for tax reasons

Facebook on Wednesday confirmed that Irish affiliates, the center of a profit-changing dispute, are closing to avoid U.S. taxes.

California tech giant Facebook has confirmed the disbandment of Ireland Holdings Unlimited during a confrontation with U.S. tax authorities, saying the company owed billions of dollars in tax arrears by misappropriating its profits. Foreign.

A Facebook spokesman saidPart of the change that fits well into the working structure“Assets of Group Three Subsidiaries”Distributed to its American parent company“.

The Times of London and other media outlets had previously reported the closure.

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Facebook has questioned the request of U.S. tax authorities for allegedly underestimating the intellectual property assets used by the social network.

But he said the assets were returned in July.Deploys well with company structure“And with location”Activities and staff“.

Facebook claims to have paid more than $ 11 billion in taxes worldwide over the past three years, and claims that its effective tax rate has exceeded 20% over the past five years.

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