Facebook to shut down Irish holding companies amid disputes over tax payments in Europe - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

Canada News News

Facebook to shut down Irish holding companies amid disputes over tax payments in Europe

Jakub Porzycki/NurPhoto via Getty Images

The firm's Irish holding company brought in around $30 billion of revenue in 2018 – more than half of the firm's total annual turnover of $56 billion. In 2018, the social networking giant's Irish subsidiary paid just $101 million in tax, while recording profits of more than $15 billion.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in CA

Canada Canada Latest News, Canada Canada Headlines