Following the signing of an agreement with the Australian Taxation Office (ATO) in October, Facebook was burdened with a $ 31.3 million tax adjustment related to its 2009 fiscal year
The Securities and Investments Commission (ASIC), Facebook, paid AUD 42.4 million in income tax for the year ended December 31, 2017, of which AU $ 11.6 million was based on the current year, and the remainder an adjustment to tax obligations between 2009 and 2015 For fiscal year 2016, the company paid AUD 6.3 million in income tax.
Of its other headline numbers, the social network posted revenue growth of more than AU $ 1
Pretax earnings were $ 32.9 million, with a loss of $ 9.6 million after income taxes. For the year 2016, pre-tax profit was $ 6.3 million and after-tax profit was $ 3.3 million.
Throughout the year, Facebook Australia received a $ 50 million capital injection from Facebook Global Holdings and its tax The company now has $ 11 million in accumulated losses for future periods.
As of December 31, the company held $ 26.5 million in cash, an increase of $ 10.7 million.
September last year The company announced that much of its Australian sales are booked overseas.
For the year 2016, the company posted AU $ 327 million in sales from local Australians compared to AU $ 492 million overseas.
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Facebook had previously told the Senate Department of Economic Affairs Standing Committee that it only books revenue in Australia from Facebook's local sales team in Sydney and Melbourne, and no Australian companies or people who bought ads on the social page without interacting with the local sales arm.
At the same time, the ATO stated that the behavior of Facebook does not violate laws.
"You have a presence in Australia, and the sales that directly support this presence must be returned in Australia – this is how the MAAL [multinational anti-avoidance laws] works." It says if you have sales going offshore, and you do activities in Australia and these activities directly support these sales, then you need to return those sales in Australia, "ATO Deputy Commissioner Mark Konza said in August.
"However, of course, the opposite must also be true, Senator, and that means if you have some of your sales that are not directly supported then you are not required to return them to Australia."
Last week, it www.celesio.com/ag/?redirect=true&n…id=4&nx=1665 The parent company has achieved initial results since the Cambridge Analytica data breach, with a net income of $ 5.9 billion from revenues of $ 11.96 in the first quarter. Englisch: www.celesio.com/ag/?redirect=true&n…id=4&nx=1665 Billions of Dollars
"Despite great challenges, our community and our business are on the brink of a strong start in 2018," said Facebook CEO Mark Zuckerberg.
"We take our responsibilities and investments broadly to ensure that our services are used forever, but we must continue to develop new tools to help people connect, strengthen our communities and the world to each other
The company's next quarter is likely to show whether there are any consequences from the ongoing privacy scandal. 19659018] Earlier this month, Facebook removed non-European users who might be covered by European data protection laws from their Ireland business.
The change hit more than 70 percent of over 2 billion Facebook users In December, Facebook had 239 million users in the US and Canada, 370 million in Europe and 1.52 billion users elsewhere.
Also read: How DSGVO Affects Australian Organizations
In a statement, Facebook has played The importance of changing the terms of service has also been underlined.
"We apply the same privacy everywhere, whether you agree with Facebook Inc. or Facebook Ireland," the company said 659002] Facebook CEO Mark Zuckerberg said earlier this month that his company would make EU law global Apply in spirit, but not as a standard for the social network around the world.
Mark Zuckerberg: Bringing Facebook's interests into line with user interests
The Facebook CEO has rejected the idea that Facebook must rein in its profit motive in order to restore users' trust ,
Facebook surpasses revenue targets despite privacy scandal
In the US and Canada, Facebook gained around one million new active users per day in the first quarter.
Facebook moves 1.5 billion users of DSGVO
Facebook makes changes that have been circumventing non-European users so far European laws are not protected by the General Data Protection Regulation.
Could Facebook's data debacle lead to more companies like Apple worrying about privacy? (TechRepublic)  Apple CEO Tim Cook called on Congress to develop stricter measures to protect people's privacy and privacy
Facebook's Zuckerberg: How We Will Solve Our Massive Privacy Issues (TechRepublic)
following revelations that data from 87 million users were shared with the research firm Cambridge Analytica.