The Meta social media group has agreed to declare $498 million of additional income in the US to settle part of a court dispute there over its use of a past so-called double Irish structure. The settlement between petitioner Facebook, Inc (the former name of Meta Platforms, Inc) and the US Commissioner of Internal Revenue was filed on June 21 with the US Tax Court and first reported by Bloomberg Tax. The short document reads: “Petitioner’s income in the form of gross royalties is increased by $498,397,568 for the transfer of Instagram property to Facebook Ireland Holdings Unlimited.” It adds…

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