Guess how much Facebook paid in U.K. corporation taxes for 2013? Hint: If your guess was a positive number, you were too high.
Facebook teamed up with Boston Consulting Group to release a study in June on how its data center in Luleå, Sweden, is impacting the local economy, and the social network undertook a similar venture with RTI International to measure the economic effects of its data center in Forest City, N.C.
Facebook’s data center in Prineville, Ore., does more than simply house servers, according to an economic analysis of the facility’s impact on the region and the state commissioned by the social network and conducted by ECONorthwest.
Facebook Ireland turned a gross profit of €1.79 billion ($2.45 billion) in 2012, but it reported a pre-tax loss of €626,000 ($857,243). This may sound sketchy, but the company was fully compliant with the law. Financial Times explained how this happened.
Facebook Co-Founder and Chief Executive Officer Mark Zuckerberg will follow in the footsteps of other notable tech CEOs and take a base salary of $1 in 2013, taking one step toward slashing his tax burden.
Facebook has a potentially taxing problem on its hands, and the company will address it by increasing its $2.5 billion credit line.