Facebook Ireland reveals how much corporate tax it paid last year

Ahead of the publication of its full financial statements in , Facebook has revealed its pre-tax profits rose 43pc on the previous year.

Facebook Ireland has said that it paid €63.2m in corporation tax to the Government last year, and calculated that it directly contributed almost €1bn to the Irish economy through wages, deals with local suppliers and capital expenditure.

According to The Irish Times, Facebook’s EMEA headquarters in Dublin contributed €25.5bn to the company’s overall revenues last year, which is an of more than one-third compared to the previous year.

The head of Facebook Ireland, Gareth Lambe, said that given such figures, the Dublin office remains “important” for the company following a decade of being based here.

Last January, Facebook’s COO Sheryl Sandberg arrived in Dublin to announced that the company was to create 1,000 jobs in the city over the course of this year, bringing its total employee figure to around 5,000.

While the average pay of Facebook staff has not yet been revealed, with complete financial reports set to be published next Monday (2 December), the figure for the previous year showed it to be €154,000. This included salary, bonuses and share payments.

Business growth

Facebook’s next big move in Ireland is to shift its EMEA headquarters from its base in Silicon Docks to the Bank Centre building, previously occupied by AIB, in Ballsbridge. In 2018, Lambe said that the campus would have space for an additional 5,000 employees.

Last month, the financial statements of Facebook’s entire operations were revealed. It showed that despite the controversies surrounding its network, it achieved steady revenue and user growth.

Also Read:  Hasbro Reveals Monopoly: Speed With Special Rules for Quick Games

Facebook’s user base in Europe grew from 286m to 288m daily active users. In the US and Canada, there was an increase from 187m to 189m daily active users.

It reported total revenue for the last quarter of $17.7bn, up from $13.7bn during the same period last year.

“We had a good quarter and our community and business continue to grow,” Facebook founder and chief executive Mark Zuckerberg said at the time.

“We are focused on making progress on major social issues and building new experiences that improve people’s lives around the world.”

You might also like More from author

Comments are closed.