Facebook Paid 0.3% Taxes on $1.34 Billion

From Kenneth Thomas … Facebook paid 0.3% Taxes on $1.34 Billion profits:

If you are as cynical as I am, I know you are not surprised that Facebook paid Irish taxes (via Tax Justice Network) of about $4.64 million on its entire non-US profits of $1.344 billion for 2011.* This 0.3% tax rate is a bit below the normal, already low, Irish corporate income tax of 12.5%.

As with Apple, Facebook funnels its foreign profits into its Irish subsidiary.