According to the “London Times” citing company documents, Facebook has started to liquidate several Irish holding companies, which have allowed it to transfer billions of dollars in profits to Ireland, where taxes are lighter, thereby saving a lot of taxes. . The newspaper stated that these Irish companies are used to hold their intellectual property rights for international sales. Facebook companies around the world will pay these units for the use of intellectual property rights, thereby transferring most of their sales to the United States. outer.
The paper said that Facebook’s main Irish holding company paid $101 million in taxes for more than $15 billion in profits in 2018, the last year on record. After
brought Facebook to court by the U.S. Revenue Service, Facebook began to stop the actions of these units. The tax audit claimed that the social media company transferred funds through Ireland to evade U.S. taxes, and that Facebook also transferred these due to the transfer of profits. The saved billions of euros are remitted from Ireland to the United States, and all of this is well documented.
"The intellectual property licenses related to our international business have been sent back to the United States," Facebook said in a statement to the media. "This change has been effective since July of this year and will best align the company structure with most of our expected activities and personnel locations. We believe that this is consistent with the recent and upcoming tax law changes. Policymakers are This change is advocated globally."
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