U.S. rebate for Facebook : Facebook has pocketed $419m from the U.S. taxman after building up a colossal tax credit following its stock market float last year. The rebate will more than eliminate the $346m corporation tax liability that the social network incurred in the first half of 2013 after reporting a $898m profit for the period. The Sunday Times notes that the rebate comes amid continuing accusations that powerful American technology companies ruthlessly exploit gaps in global tax codes to pump up their earnings. Source : The Sunday Times, Business, Page: 10
Posted on: Sun, 28 Jul 2013 08:07:01 +0000