Facebook accused of harboring nine billion dollars from the tax

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www.vsyako.netPhoto: Aly Song / Reuters

IRS (IRS) has accused Facebook of holding nine billion dollars in taxes. The Agency requires a court to recover the amount from the social network, writes Reuters.

The hearings started on February 18 in the court of San Francisco. It is expected that the process will drag on for three to four weeks.

Claim us tax authorities regarding the transfer in 2010 by the parent company Facebook in the US intellectual property rights to its subsidiary, registered in Ireland. American corporations often open a subsidiary business in the country because of the low corporate tax at 12.5% (in USA it is 35%). The American tax authorities argue that the transfer of the rights the value of intellectual property was low.

The Tax office indicated that the agreement between the subsidiary and parent companies Irish unit pays us a royalty for use of trademarks, access users and technology. From 2010 to 2016 subsidiary paid the parent company Facebook more than $ 14 billion. The IRS of the United States argued that this amount is underestimated, writes The Verge.

Meanwhile, Facebook said that allegedly underestimated valuation of intellectual property in 2010 was associated with risks due to international expansion, which began prior to the IPO (the first public sale of shares).

Video, photo All from Russia.

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