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The U.S. Tax Cuts and Jobs Act of 2017 changed Facebook's global tax calculations. Meta Platforms Ireland is subject to the U.S. GILTI tax of 10.5% on global intangible profits (i.e. Irish profits). On the basis that Meta Platforms Ireland Limited is paying some tax, the effective minimum US tax for Facebook Ireland will be circa 11%.
A poll tax, also called a per capita tax, or capitation tax, is a tax that levies a set amount per individual. It is an example of the concept of fixed tax. One of the earliest taxes mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11–16) was a form of the poll tax. Poll taxes are administratively cheap because ...
Revenues, profits, tax and effective tax rates, Facebook Inc. 2013–2015. [170] Revenue (m EUR) EBT (m EUR) Tax (m EUR) Tax / EBT Tax / Revenue Total EU Rest of the world Total EU Rest of the world Total EU Rest of the world Total EU Rest of the world Total EU Rest of the world Facebook Inc. 2013: 5,720 3,069 2,651 2,001 (4) 2,005 911 3 908 46 ...
The coming Facebook IPO is making waves in the investment world, as everyone tries to figure out how to make money from the social-media craze. One group of lucky people, however, is almost ...
Tax-exempt means not being required to pay taxes on certain types of income. Find out which type of income is considered tax-exempt.
Continue reading → The post What It Means to Be Tax Exempt appeared first on SmartAsset Blog. You could, however, get out of paying income tax if you're deemed tax-exempt by the Internal Revenue ...
Facebook has been criticized for electricity usage, [163] tax avoidance, [164] real-name user requirement policies, [165] censorship [166] [167] and its involvement in the United States PRISM surveillance program. [168] According to The Express Tribune, Facebook "avoided billions of dollars in tax using offshore companies". [169]
Tax deductions lower your taxable income, which reduces the amount of income tax you're required to pay. Most tax deductions are expenses that you pay either to generate income or provide a social...