Facebook- Likes Cayman, Rips off Ireland

Facebook paid €1.9m in Irish tax on €1.7bn turnover - Technology Industry News | Market & Trends | The Irish Times - Thu, Dec 05, 2013: "Facebook Ireland, the Dublin-based company that forms a key part of its global corporate structure, grew its turnover by €737 million last year to €1.78 billion, but only generated an Irish corporation tax charge of €1.9 million.
The company recorded a pre-tax loss of €626,000, according to the accounts, which show how the gross profit made by the company was turned into a loss when administrative expenses, paid to other group companies, were taken into account.
These expenses included royalty payments of €770 million to its immediate parent, Facebook Ireland Holdings, an unlimited company registered in Ireland but not believed to be tax-resident here. Its shareholders include a number of Facebook companies based in the Cayman Islands, where there is no corporation tax."

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