Facebook has displeased millions of Americans this week with the news that the company isn’t paying any federal or state tax for the year. In international news, China has taken a #1 spot away from the US in a major tech category and we find that Sweden is the new epicenter of tech.
Citizens for Tax Justice released a breakdown of Facebook’s tax filings for the year 2012. The tax filing shows the company not paying a single tax to the federal and state governments of the United States. In fact, Facebook is received over $400M in refunds! By utilizing a single, legal tax break, Facebook found itself not paying a dime for its $1.1B in US profits in 2012. We provide details and plenty of frustration to go around.
International Tech News – China tops U.S. as world’s largest smart device market & Stockholm is the latest tech epicenter
At the end of February, it is predicted that China will secure the #1 spot as the world’s largest smart device market – about 246M devices in use. China has outpaced the US, which currently stands at about 230M devices in use. The UK, South Korea, and Japan complete the Top Five with a combined market of 102M devices being used. In addition, the European Union country of Sweden has been the buzz amongst the international tech communities. With companies such as Spotify, Klarna, DICE, QlikTech, iZettle, and MySQL finding their birth in Sweden, the country is poised to become the center of attention for years to come.
Facebook Set To Pay No Taxes And International Tech News – WOT 171: November 25th, 2013