The California tech giant acknowledged the winding down of Facebook Ireland Holdings Unlimited Company amid a dispute with US tax authorities, which claimed the company owed billions in taxes by improperly shifting profits offshore.
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Unknown titlestories. Click here to subscribe for free.) Facebook confirmed Wednesday it was closing its Irish subsidiaries at the centre of a dispute on profit shifting to avoid taxes in the United States. <span>The California tech giant acknowledged the winding down of Facebook Ireland Holdings Unlimited Company amid a dispute with US tax authorities, which claimed the company owed billions in taxes by improperly shifting profits offshore. A Facebook spokesperson said the move was "part of a change that best aligns with our operating structure" and that the holdings of the three subsidiaries were "distributed to its US pa Summary
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