Facebook shuts Irish subsidiary over tax disputes
Posted On: Dec. 30, 2020 9:44 AM CSTFacebook Inc. has decided to shut down its Irish subsidiary following tax payment disputes in the European Union, Business Insider reported citing newspaper The Times’ reports. The subsidiary, Facebook International Holdings I Unlimited Co., paid only $101 million in tax in 2018 despite reporting more than $15 billion in profits and about $30 billion in revenue.