On the action of the collection agency of the US taxes, Facebook was forced to close three holding companies in Ireland and bring the intellectual property back to the US
of Rosario Grasso published on 29 December 2020 , at 14: 01 in the web channel
Facebook
I giants of the web , you know, they exploit tax havens to pay less taxes, and this applies to both Europe and United States. Not only Facebook , of course, but also the various Amazon, Netflix, Google and others. The Internal Revenue Service , the US government agency responsible for the collection of taxes, recently targeted the company of Mark Zuckerberg , to the point of forcing it to close three holding companies in Ireland and to bring back the intellectual property in the US.
Facebook used its Irish companies to collect payments from the companies it works with and pay less taxes
An operation that will lead Facebook to pay more taxes in the US, after the IRS found that the social network must pay more than 9 billion dollars , linked to the transfer, in 2010, of its profits in Ireland. “We believe it is consistent with the recent and upcoming changes in tax legislation that policy makers are advocating around the world” commented Facebook with an official note.
It is now expected that the European Union moves in the same way with the coveted web tax : an objective at the heart of the Italian presidency of the G 20.
Facebook has indeed used its Irish companies to channel international sales by holding its intellectual properties in Ireland. He thus collected payments from the companies he collaborates with in Ireland . According to recent investigations by Times and Guardian , Facebook’s main Irish subsidiary would only pay 101 millions of dollars in tax on profits of 15 billions in 2018, last year for which data are available.
The Federal Trade Commission (FTC) has also gone against Facebook in recent weeks, accusing it of ‘illegal monopoly’ through the acquisitions of Instagram and WhatsApp .
