Facebook caves under pressure from governments to change tax structure

Moving to a Local Selling Model | Facebook Newsroom

Moving to a Local Selling Model | Facebook Newsroom

As a result, advertising revenue generated by its local teams will no longer be recorded in Dublin, but will instead be recorded by its local company in that country.

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 worldwide headquarters.

The Department of Finance would not comment on Facebook's move, but said Ireland will continue to co-operate with OECD efforts to combat tax avoidance.

Dolphins stun Brady and Patriots
One said was courtesy of Dolphins defensive tackle Ndamukong Suh, who said last week his job Monday was to "piss off" Brady. Miami improved to 6-7 after their second straight victory and is one game out of the final playoff berth in the conference.

All revenue will be recorded locally, not via its worldwide headquarters based in Dublin as it has been it announced today.

Although Wehner said Facebook's goal is greater transparency, the company's move is likely also a response to the growing scrutiny in tax reporting for major tech enterprises in the EU.

Facebook's United Kingdom operations paid just £5.1m in corporation tax a year ago, despite a jump in profit and revenues almost quadrupling on the back of increasing advertising sales.

US Army deserter who spent decades in N.Korea dies at 77
Soga, 58, had already returned to Japan two years before with a group of other abductees. "You don't say no to North Korea". In Japan Jenkins spent his time working in a gift shop and also wrote a book about the time he spent in North Korea.

Currently, the European commission is expected in March to release proposals on increasing tax to multinational digital companies. A number of technology companies have been accused of setting up elaborate structures to minimize the amount of taxes they pay. But there has been increased scrutiny on global corporations that generate a lot of revenue outside the US, like Apple and Facebook.

Despite Facebook's efforts to mollify the growing clamor for tech companies to pay more tax, it remains unclear whether the social network's proposed changes will be enough to stop European Union policymakers from pushing ahead with changes to the region's tax policies.

The change in policy will start being implemented in 2018, with all the company's local offices to switch over to the new model by 2019.

Maradona statue ridiculed after unveiling in India
He will play a charity football match against former India captain Sourav Ganguly on Tuesday at Barasat in West Bengal. But the end result is a troubling depiction of his 1986 World Cup triumph that looks little like the man himself.

Wehner said that this change will "require significant resources" to implement fully since each country has unique laws and expectations.

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