Zest Digital Mag
  • News
  • Topics
    • Technology
    • People
    • Telecom
    • Mobiles
    • Business
    • Cars
    • Gaming
    • Operating System
  • Phone Plans
    • Internet Packages
    • Calling Packages
    • Hotspot
    • Internet Settings
    • SMS Packages
  • Mobiles Price
  • The Best
  • How To
  • BIO
    • Entreprenuers
    • Companies
Reading: Facebook to close Irish units at center of tax dispute
Share
Aa
Zest Digital Mag
Aa
  • News
  • Topics
  • Phone Plans
  • Mobiles Price
  • The Best
  • How To
  • BIO
Search
  • News
  • Topics
    • Technology
    • People
    • Telecom
    • Mobiles
    • Business
    • Cars
    • Gaming
    • Operating System
  • Phone Plans
    • Internet Packages
    • Calling Packages
    • Hotspot
    • Internet Settings
    • SMS Packages
  • Mobiles Price
  • The Best
  • How To
  • BIO
    • Entreprenuers
    • Companies
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DCMA
  • Contact Us
© 2022 All Rights Reserved.
Zest Digital Mag > Blog > Latest Technology > Facebook to close Irish units at center of tax dispute
Latest TechnologyTech News

Facebook to close Irish units at center of tax dispute

Anna Paul
Anna Paul
Updated 2021/08/06 at 11:56 AM
Share
Facebook to close Irish units at center of tax dispute
Facebook to close Irish units at center of tax dispute
SHARE

Facebook confirmed Wednesday it was closing its Irish subsidiaries at the center of a dispute on profit shifting to avoid taxes in the United States.

The California tech giant acknowledged the winding down of Facebook Ireland Holdings Unlimited Company amid a dispute with US tax authorities, which claimed the company owed billions in taxes by improperly shifting profits offshore.

A Facebook spokesperson said the move was “part of a change that best aligns with our operating structure” and that the holdings of the three subsidiaries were “distributed to its US parent company.”

The closing was previously reported by the Times of London and other media.

Facebook has disputed the claims from US tax authorities seeking some $9 billion for allegedly undervaluing intellectual property assets used by the social network.

But it noted that these assets were repatriated in July in a move which “best aligns corporate structure with where we expect to have most of our activities and people.”

Content Source: http://www.digitaljournal.com
Image Source: http://www.digitaljournal.com

You Might Also Like

Tech Ideas to Improve your Trade Show Booth

The Rule of IT Devices Rental Organization Over Professional Sector

Facebook announces new features for business

WhatsApp New Feature Update: Users can Pause Recordings

Apple appeals against the Epic Games ruling it originally described as a’resounding win’

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Anna Paul January 8, 2021
Share this Article
Facebook Twitter Copy Link Print
Share
Previous Article GoDaddy apologises for fake Christmas bonus email security test GoDaddy apologises for fake Christmas bonus email security test
Next Article US, European stocks end at records on US stimulus, Brexit deal US, European stocks end at records on US stimulus, Brexit deal
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

banner banner
Advertise
Advertise on Zest Digital Mag
Learn More

Latest News

Rugby Live Today Six Nations Boss Abolish Springboks addition Rumours
Rugby Live Today Six Nations Boss Abolish Springboks addition Rumours
News
How to claim FIFA 23 Twitch Prime Gaming reward packs(October 2022)
How to claim FIFA 23 Twitch Prime Gaming reward packs(October 2022)
Gaming
China Telecom Building Fire: After the Dust Settled
China Telecom Building Fire: After the Dust Settled
News
Major Earthquake Hits Mexico Days After Deadly Quake
Major Earthquake Hits Mexico Days After Deadly Quake
News
Zest Digital Mag
Follow US

© 2022 ZEST DIGITAL MAG. All Rights Reserved.

  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DCMA
  • Contact Us

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?