- Advertisement -
Home News Facebook Ireland has declared "we do not avoid tax

Facebook Ireland has declared “we do not avoid tax

- Advertisement -

Its corporate tax bill was €16.53m last year, representing just a tiny percentage (0.002%) of revenues of €7.89bn. This was still significantly larger than its 2014 tax bill of €3.4m

Newly-filed accounts showed that revenues were €3bn healthier than in 2014 – a 63% increase – while pre-tax profits seeing an eightfold increase from €12.82m in 2014 to €109.57m.

The discrepancy between revenue and profits owes to massive administrative expenses Facebook Ireland pays to the social media giant’s other entities in royalties and fees.




The company’s Irish revenues accounted for 56% of its global turnover of $17.93bn in 2015.

A Facebook Ireland spokesperson noted that the tax bill “represents an effective tax rate of 12.8% in lines with the statutory tax rate of 12.5%.”

They continued:

“There are strict accounting and tax rules in Ireland that all companies have to comply with. We follow these rules and pay all the taxes that we are required to under Irish law. We do not avoid tax. We comply with all tax laws in the countries in which we operate.”

Gareth Lambe, head of Facebook Ireland, said:
“We are proud that, in 2015, we have continued to grow our business and focus on our goal of connecting the world. The increase in our revenue is attributable to growth in advertising from the international business community that advertise on our platform.

“2016 has been an exciting year as we continue to invest in Ireland and concentrate on our advantages as a talent hub and centre of excellence.”

Facebook employs 1,500 people in Ireland. Staff costs were up from €62m to €77.5m last year.

It was also reported at the start of December that the company is considering opening a new office in Cork. It has been looking at moving into the new Capitol development on St Patrick’s Street and Grand Parade, due for completion in early 2017.

- Advertisement -
- Advertisement -

Must Read

Duffl: The Delivery Service You Didn’t Know You Needed

If there was ever a time when fast and no-contact delivery was needed, a global pandemic would definitely hit the mark. However, when UCLA...
- Advertisement -

Start Your Own Business: List of Things You’ll Need to Do

With Covid-19 being declared a pandemic, the world has witnessed tremendous change in the business scenario. Many companies have shut down & millions of...

How to make a great first impression at work

You may perhaps want to know the secret to achieve sure success at work. Creating good first impressions is very much important especially if...

How to Improve Your Customer’s Experience on Busy Days

If you are the owner of a business, then the coming holiday season can mean rush hour. Holidays & occasions are the time when...

Related Category Posts

7 biggest leadership and management mistakes – How to Avoid Them

Being at the management level, you need to possess excellent leadership skills. This will not only help you to avoid some commonly made leadership...

Capital in Economics: Definition, Characteristics and Importance

You may be eager to know what is capital, especially in economic terms. The definition of Capital is “All man-made goods used to produce...

Types of Businesses Need Mobile Archiving Services

Mobiles are fast taking over the corporate world as the go-to form of communication. Everything from sending emails to receiving calls is done via...

How to sell your business quickly at the highest price

Perhaps, you want to retire early & lead a peaceful life. If you own a business & no more interested to pursue it, then...

Workplace mobility: Mobility meaning and the Importance of Mobility in the digital workplace

You may be interested to know workplace mobility meaning in details. The modern digital workspace demands mobility throughout the different stages. Mobility is crucial...
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Select Language »