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Facebook tells US tax bods: Swear to God, we were only worth $6.5bn in 2010 because we were menaced by... MySpace and smartphones

John Brown (no body) Silver badge

How does that work?

"Facebook “sold” the rights to its software and trademarks to a subsidiary based in Ireland"

So, you have multi billion dollar company and you create an off-shore subsidiary. How does that small off-shore subsidiary come by enough cash to buy all your IP and then licence it back?

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