Facebook could face extra $5bn tax bill after US investigation
by Jemima Kiss in San Francisco from Technology | The Guardian on (#1NY4T)
IRS has been exploring how the tech company transferred assets to Ireland and whether it deliberately tried to minimize the tax it paid in the US
Facebook could be liable to pay between $3 to $5bn in extra US tax after an extensive investigation by the US Internal Revenue Service (IRS) into the way the tech company transferred assets to Ireland.
The tax agency has been exploring whether Facebook deliberately deployed complex financial processes designed to minimize the amount of US tax it paid.
Continue reading...