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BusinessInsider.com wrote:
Boy Is This A Galling:
Tax Dodge From Facebook: It Paid 0.3% Taxes On $1.34 Billion Profits


Facebook CFO David Ebersman

If you are as cynical as I am, I know you are not surprised that Facebook paid Irish taxes (via Tax Justice Network) of about $4.64 million on its entire non-US profits of $1.344 billion for 2011.* This 0.3% tax rate is a bit below the normal, already low, Irish corporate income tax of 12.5%.

As with Apple, Facebook funnels its foreign profits into its Irish subsidiary. As the Guardian article explains:
Facebook is structured so that companies buying advertisements on the website in the UK, or anywhere outside of the US, have to pay Facebook Ireland. As a result, Facebook manages to slash its taxes in other countries, paying, for example, $380,800 in British tax on estimated 2011 UK profits of $280 million, or a little over 0.1%. What is shocking is that Facebook paid so much Irish tax since it managed to convert its $1.3 billion gross profit into a net loss of $24 million.

As you've no doubt figured out, it's that "Double Irish" ploy again. Facebook operates a second subsidiary that is incorporated in Ireland but controlled in the Cayman Islands. This subsidiary owns Facebook Ireland, but the setup allows the two companies to be considered as one for U.S. tax purposes, but separate for Irish tax purposes. The Caymans-operated subsidiary owns the rights to use Facebook's intellectual property outside the U.S., for which Facebook Ireland pays hefty royalties to use. This lets Facebook Ireland transfer the profits from low-tax Ireland to no-tax Cayman Islands. For more on the arcane mechanics, see Joseph Darby's article "International Tax Planning," downloadable at Wikipedia.

This makes no sense of course, but is, in David Cay Johnston's inimitable phrase, Perfectly Legal. But it shouldn't be. And in the UK, Chancellor of the Exchequer George Osborne has announced
a £154m [$246.4 million] blitz on tax avoidance and evasion, with HMRC [the British equivalent of the IRS] hiring an extra 2,500 tax inspectors to target high earners who aggressively exploit loopholes to avoid or evade tax. The U.S. should do the same.

* Dollar figures converted from pound sterling figures in the Guardianat an exchange rate of $1.60 per pound.

Lay in bed crying myself to sleep. I know I shouldn't worry, but its easier said than done. Need to keep focused and positive. On the other hand I miss you so much. If only you was here to take away my empty pain away. No matter how much I say I hate you, I'm not afraid to admit that I still love you. I pray to whoever may hear my prayer that my life will get better.

Life is precious. But you won't see it untill you stand in the light of life. We take advantage of this gift they we got given, we use and abuse. Put ourselves at risks and get into trouble. I'm standing in the light of life not knowing what's going to happen next, but I wanna thank life for blessing me with a mother who is my nana and the most amazing friends ever.

Hypefiend wrote:ppl w/ profile pictures... bugs the fuk out of me, i dont care nor want to see your statuses what makes u think i wanna see ur face?

Hypefiend wrote:ppl w/ profile pictures... bugs the fuk out of me, i dont care nor want to see your statuses what makes u think i wanna see ur face?

rayman612 wrote:

Hypefiend wrote:ppl w/ profile pictures... bugs the fuk out of me, i dont care nor want to see your statuses what makes u think i wanna see ur face?

lol

face

book

If u had a chance ta change the past would u do it or do u be leave in evry fink happens for a reason ??? Personally there would be a lot I'd change an sum if deffo keep the same like the last few days I spent wid my own family Cercal love a me luva u Archie Neale xx