Facebook deploys something called a “double Irish” to avoid paying taxes. It’s something Google and Apple do as well. The way the double Irish works is that when one of these companies makes a dollar selling ads (or iPhones in Apple’s case) in Italy or Germany or elsewhere in the European Union, that revenue can be shifted to Ireland for tax purposes, and then on to a tax-haven country like Bermuda that charges no taxes at all. To do this, the companies have to set up subsidiaries in Ireland and transfer their foreign IP rights to those subsidiaries. What Ireland gets out of the deal is big
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This was fucking legal???
