3 ms·
The reason they paid such low corporation tax is because they funnelled that money into a country where they dont pay tax as a business expense. Im not sure wha
by tomelders 11y ago
The reason they paid such low corporation tax is because they funnelled that money into a country where they dont pay tax as a business expense. Im not sure what Facebooks specific set up is, but it will be something like this.
Facebook luxembourg provides a license for Facebook UK to use the facebook logo. The fee for that license just happens to coincide with all the profits Facebook UK made this year.
It's a fictional cost, and totally legal. But its still dirt bag behaviour.