The technology giant will no longer book advertising sales via Dublin Niall Carson/PAFacebook will pay millions of pounds in extra tax after bowing to pressure from global anti-tax avoidance campaigners and promising to record sales in the countries in which they are made. The technology giant said yesterday that it would no longer book advertising sales made to larger customers located outside the United States via Dublin, its international headquarters. For years, Facebook has legally minimised taxes by funnelling non-US income to the Republic of Ireland, a jurisdiction with only 12.5 per cent corporation tax. The company lowered its tax bill further by paying large royalties to companies resident in the Cayman Islands, shifting much of the profit from Dublin to the tax haven. Faced with political pressure to alter its structure, Facebook said last year that…

Source: The Times December 13, 2017 00:00 UTC