Facebook Ireland paid only €3.4m in corporate tax last year in spite of revenues rocketing by over €1.8bn to €4.83bn.

The corporate tax bill for the Irish arm of Facebook more than halved to just €2.3m last year in spite of revenues rocketing to €3bn.

Executives and staff at Facebook Ireland shared a €11.84m share windfall last year as revenues surged 70% to €1.789bn.

THE main Irish arm of social networking giant Facebook recorded pre-tax profits of almost €300,000 in its first year of operation in Ireland.