{"id":23319,"date":"2013-12-06T09:06:00","date_gmt":"2013-12-06T09:06:00","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=23319"},"modified":"2013-12-06T09:06:00","modified_gmt":"2013-12-06T09:06:00","slug":"international-tax-abuse-facebook-style","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/12\/06\/international-tax-abuse-facebook-style\/","title":{"rendered":"International tax abuse, Facebook style"},"content":{"rendered":"<p>This is <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/ca64f938-5dc0-11e3-95bd-00144feabdc0.html#ixzz2mgPwv52a\" target=\"_blank\">from the FT this morning<\/a>. Tax abuse is alive and well and continuing from Ireland:<\/p>\n<blockquote>\n<p data-track-pos=\"0\">A Dublin-based company at the heart of\u00a0<a href=\"http:\/\/markets.ft.com\/tearsheets\/performance.asp?s=us:FB\" data-hover-chart=\"us:FB\">Facebook<\/a>\u2019s international tax structure used\u00a0<a title=\"Looking into sweetheart tax deals - FT.com\" href=\"http:\/\/www.ft.com\/intl\/cms\/s\/0\/43090400-1af1-11e3-a605-00144feab7de.html\">a complex tax avoidance scheme<\/a>\u00a0to limit its Irish corporation tax bill to \u00e2\u201a\u00ac1.9m last year, despite generating turnover of \u00e2\u201a\u00ac1.79bn.<\/p>\n<p>Facebook Ireland Limited, which employed 382 people in Dublin, generated a gross profit worth \u00e2\u201a\u00ac1.75bn in the year to the end of December 2012.<\/p>\n<div><span style=\"font-size: 13px;\">This profit turned into a pre-tax loss of \u00e2\u201a\u00ac626,000 when the company paid Facebook Holdings Limited, its Irish-based parent company, \u00e2\u201a\u00ac1.75bn in administrative expenses for the use of intellectual property central to its technology platform.<\/span><\/div>\n<\/blockquote>\n<p>The challenge to the OECD is a simple one: unless its Base Erosion and Profit Sifting project stop s this abuse it has failed.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is from the FT this morning. Tax abuse is alive and well and continuing from Ireland: A Dublin-based company at the heart of\u00a0Facebook\u2019s international<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/12\/06\/international-tax-abuse-facebook-style\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,78,10],"tags":[],"class_list":["post-23319","post","type-post","status-publish","format-standard","hentry","category-ireland","category-oecd","category-tax-avoidance"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/23319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=23319"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/23319\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=23319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=23319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=23319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}