Facebook agrees to pay millions more in tax

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The Department of Finance would not comment on Facebook's move, but said Ireland will continue to co-operate with OECD efforts to combat tax avoidance.

The announcement comes as policymakers push digital companies - many of which have set up shop in low-tax countries like Ireland and Luxembourg - to be more transparent about where they pay corporate tax.

Facebook is a $300 billion company used by two million Kiwis every day.

Facebook has said it will no longer send advertising revenue through Ireland, and instead pay taxes in the countries where profits are earned.

The social networking giant, along with other technology firms, has faced growing criticism over the way it reports its taxes, particularly in the European Union.

The move will apply to all countries in which Facebook now has an office to support sales to advertisers, Facebook's Chief Financial Officer Dave Wehner said in a statement.

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Chief Financial Officer Dave Wehner said it means "that advertising revenue supported by our local teams will no longer be recorded by our worldwide headquarters in Dublin, but will instead be recorded by our local company in that country".

This moves comes after significant pressure and scrutiny from the US and Europe for its tax practices.

The move follows an announcement last year by Facebook that it would start to pay tax on its British advertising sales, a change that led Facebook paying £5.1 million into the United Kingdom national budget last year, or a 21 percent increase compared to 2015.

Google, for example, booked €26.3 billion of global revenues here a year ago, paying tax of €163 million tax in Ireland. The changes, policymakers say, would move the U.S.to the global norm of not taxing companies' overseas earnings. "That said, each country is unique, and we want to make sure we get this change right".

Facebook paid just £5.1m in corporation tax in 2016, according to a Companies House filing.

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