Wednesday 19 December 2018

Facebook paid 15.5pc tax on €251.8m profit in Ireland last year

Facebook founder Mark Zuckerberg
Facebook founder Mark Zuckerberg
Gavin McLoughlin

Gavin McLoughlin

Facebook has said it paid an effective tax rate of 15.5pc in Ireland last year.

The social media’s Irish arm declared a profit of €251.8m before tax last year, up from €174.3m the year before.

A total of €38.3m of tax was paid, which includes standard corporation tax, as well as the effect of non-deductible expenses plus income taxed at a higher rate.

Turnover was €18.7bn, a near 50pc rise. The company makes its money from selling online advertising.

“As the home of our international headquarters, Ireland is an important part of Facebook’s story and our continued growth in 2017 demonstrated that,” said Facebook Ireland boss Gareth Lambe.

“By the end of the year we'll directly employ almost 2,000 people across four sites in Ireland working on our family of apps including Facebook, Instagram, WhatsApp and Oculus.

“We recently announced that we are expanding our investment in Ireland with the acquisition of the Bank Centre campus in Ballsbridge. This significant investment in a 14-acre campus with capacity for thousands more people demonstrates our commitment to Ireland, our desire to grow our business here and continue to contribute to the economy.”

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