tinyfav.com
tinyfav.com January 19, 2018


Facebook to overhaul how it pays tax worldwide

13 December 2017, 06:10 | Melanie Burgess

Moving to a Local Selling Model | Facebook Newsroom

FB To Change its Tax Paying Model

The European Commission is looking for ways to collect more tax from tech companies, which pay less than half the taxes of brick-and-mortar businesses, according to a report published by the commission in September.

Facebook has said it will no longer send advertising revenue through Ireland, and instead pay taxes in the countries where profits are earned.

The company is expected to start paying tax on its local operations across roughly 30 jurisdictions outside the United States.

In what will be seen as an attempt to get ahead of the political agenda, Facebook will next month begin the process of restructuring its global operations into a system of "local selling structures".

In future, revenues from all larger advertisers in these locations will be recorded, and the taxes paid, where the ads were sold instead of in Ireland.

Facebook says they will roll out the new tax structure through 2018 with the completion date to be mid-2019.

This moves comes after significant pressure and scrutiny from the U.S. and Europe for its tax practices.

Trump signs directive to send Americans back to the moon
On July 20, 1969, U.S. astronaut Neil Armstrong became the first man to walk on the Moon. " We're dreaming big ", he added. Bush also pledged to send Americans to the Moon as part of the Constellation program, which ran from 2005 to 2009.

American Outdoor Brands Corporation (NASDAQ:AOBC) Slumps -16.28% in Pre-Market
The company's shares were assimilated at $20.5 per share worth to an investment of some $512,500 on account of Debney P. Crestview Partners Ii Gp L.P. holds 30.34% of its portfolio in Capital Bank Financial Corp. for 2.58 million shares.

Google Home Max now available from Best Buy and Verizon for $399
The $400 Home Max is created to compete against high-end speakers like Sonos and Apple's HomePod , whenever that gets released . The HomePod will be released very soon in the market and Google Home Max will have this speaker as its competitor in future.

The social media company stressed that its worldwide headquarters will remain in Dublin.

"We believe that moving to a local selling structure will provide more transparency to governments and policymakers around the world", David Wehner, Facebook's chief financial officer, said in a blog post Tuesday.

The company is expected to start paying tax on its local operations across roughly 30 jurisdictions outside the United States including France, Germany and eight other European Union countries where Facebook has local offices.

He described the move as a "large undertaking" that will require significant resources to implement around the world.

Facebook Inc. announced a major change today to the way it reports advertising revenue outside of the US, claiming that it wants to be more transparent with local governments and businesses.

The change will apply to countries where the social network has dedicated offices.



Other News

Trending Now

McDermott explains Bills' overtime punt that had social media in an uproar
The Buffalo Bills and Indianapolis Colts have played out a gridiron war of attrition in an incredible snow blizzard in the NFL . They last met in Buffalo's 27-14 season-opening loss in 2015 in both players' first games with their respective teams.

Local gas prices continue to drop
The most expensive gas price averages in Georgia were in Savannah at $2.37 per gallon, Brunswick at $2.36 and Atlanta at $2.34. It's ultimately up to owners to decide if premium fuel is worth it, but choosing regular won't harm engines .

Donald Trump rejects congressional sexual harassment probe
The press secretary was unable to provide any evidence to discredit the allegations, instead relying on Trump's denials. Crooks is a former receptionist at Trump Tower and Leeds said she met Trump on a flight.

New Featurette For The Making of Marvel's Spider-Man For Playstation 4
The animated film is the brainchild of writers Phil Lord and Christopher Miller (the duo behind " The Lego Movie "). Morales was first introduced in 2011 during Chapter 4 of the Ultimate Fallout Marvel comic book series.

Amazon's Alexa Can Now Wake You Up to Music of Your Choice
By issuing the correct voice commands, Alexa will wake up users with the song, playlist, or news channel of their choice. Setting up music or news alarms with Alexa is simple, as with any other thing involving Amazon's digital assistant.

Mark Cerny Tries to Pull New Death Stranding Details From Hideo Kojima
Fans took to Twitter to express their excitement - and confusion - over the teaser, with many calling for more information from the legendary Japanese game designer.

Adorable Suri Cruise steals show introducing Taylor Swift at Jingle Ball
The songstress was the draw and was the best performer of the night. "I can fix this", Corden said after receiving an urgent call. Suri wasn't the only one at the Jingle Ball who was pretty excited about the musical artists-and with good reason.

49ers, Garoppolo top Texans for second straight win
Yates, who was signed after Watson was injured, threw for 175 yards and two touchdowns in his first game since November 16, 2015. Several of Savage's teammates said they didn't notice anything different about him on the drive after he was injured, and T.J.

'Star Wars: The Last Jedi' Gets Heightened Security At Hollywood Premiere
A snow storm led to hundreds of cancellations at Atlanta's Hartsfield-Jackson International Airport. The characters, including the droids R2-D2, C-3PO and BB-8, arrived before the film's stars.

Antonio Conte confirms two key players will be missing West Ham fixture
Conte, who will be watching the top-of-the-table clash from home, said: "I love football and I like to watch this game". Chelsea could cope if Luiz is sold in the New Year. "Now I repeat: it's important to be focused on this moment.