Last week, Facebook went on trial before the Tax Court in the US. The social media giant itself triggered the case by contesting the assessment of the US Internal Revenue Service (IRS) that the company had minimised its tax bills by undervaluing intellectual property based in offshore subsidiaries. Court reports have now shown that Facebook had located the contentious intangible assets in Ireland. The trial will dissect a network of subsidiaries established by the group here to route tens of billions in revenues and profits over the past decade. The IRS advised Facebook on July 27, 2016 that it had…

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