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4-Traders Homepage  >  Equities  >  Nasdaq  >  Facebook Inc    FB

Delayed Quote. Delayed  - 07/29 10:00:00 pm
123.94 USD   -0.85%
07/30 FACEBOOK : could owe $5 billion in back taxes
07/30 FACEBOOK : is censoring some posts on Kashmir
07/30 FACEBOOK : announces Q2 earnings
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Facebook : could owe $5 billion in back taxes

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07/30/2016 | 06:21pm CEST

Facebook is digging in over its fight with the Internal Revenue Service. The social network said this week that it faces a potential $5 billion tax bill after moving some of its assets to Ireland.

The company's tussle with tax authorities dates back to its decision in 2010 to transfer many of its global "intangible" assets - those not in the United States or Canada - to its Irish holding company. The transfer allowed the company to pay a lower tax rate on the profits made from those assets, tax experts say. (The corporate tax rate in Ireland is 12.5 percent, compared with 35 percent in the United States.)

The IRS said in court documents the way the assets were valued was "problematic" and that the "transferred intangibles" may have been undervalued by "billions of dollars."

On Thursday, Facebook, which reported more than $2 billion in profits during its second quarter, said it received a "deficiency" notice from the IRS and could end up with a tax bill of $3 billion to $5 billion, plus interest and penalties.

© Copyright (c) 2016 Tulsa World. World Publishing Co., source Newspapers

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Financials ($)
Sales 2016 27 056 M
EBIT 2016 15 144 M
Net income 2016 8 256 M
Finance 2016 22 212 M
Yield 2016 -
P/E ratio 2016 43,89
P/E ratio 2017 30,95
EV / Sales 2016 12,3x
EV / Sales 2017 8,97x
Capitalization 355 914 M
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Facebook Inc Technical Analysis Chart | FB | US30303M1027 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 48
Average target price 153 $
Spread / Average Target 24%
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Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer & VP-Engineering
Timothy Campos Chief Information Officer
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