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Intellectual property to be repatriated to the US after tax authorities claimed it owed $9bn
Facebook is winding up Irish holding companies it has used to channel hundreds of billions of profits to avoid paying taxes in the US, the UK and hundreds of other countries.
The company’s main Irish subsidiary paid $101m (£75m) in tax while recording profits of more than $15bn in 2018, the last year for which records are available. Facebook companies around the world paid the Irish holding company (...)