A loophole in US tax law will allow Facebook to claim a bumper tax credit when its staff - including 28-year-old founder Mark Zuckerberg - and early investors cash in hundreds of millions of share options following its listing on the Nasdaq.Commentary:
The revelation comes as the social networking giant this week kicks off a series of meetings to woo potential investors for a listing that could value the business at around $96bn.
Why would Facebook want to pay taxes? It’s not like they do business in the US or have a large number of users/customers in the US. They obviously don’t have a lot of US advertisers or US partners or even US employees.
Oh wait, do they?
I’m sure people will be more offended over the latest privacy scandal to erupt out of the terms of service as opposed to shortchanging America.
See full article on telegraph.co.uk
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