When you read the title you must have imagined Facebook as a fraud company who is planning to evade the tax restrictions but believe me its not like that.
In the last few months we saw that Google was found to have not paid its taxes but it looks like there are a few more that want to be in the same list. Last year Facebook went AWOL with public IPO and experts say that it was a complete mess and that the company ultimately got the profit of about 1 billion US dollars.
Despite of the huge pile of profit its been said that the company will not be paying any more taxes ths year. Whats even more shocking is that they will get a tax reduction and they are gonna get back some money in the back way which is equal to the amount of $449 million.
Experts have even added that the company will be getting even better. The spot gets even sweeter for the company because they are gonna get even bigger tax breaks totaling up to $3 billion.
Whats actually happening inside is that the company actually pays its employees cash in stock options and that point they get a tax deduction at that point. The government has to look at it in the form of wages although the company has no need to spend any money on that front.
From my point of view it seems that its a great policy from the great minds of Facebook, saving taxes and getting tax returns! Share what you have to say about this new discovery here or at http://www.facebook.com/digitfreak