US technology firm to join Google and Facebook in a move revealed by Ireland's Industrial Development Authority
Twitter is to join fellow US technology companies Google and Facebook by setting up an international HQ in Dublin.
The revelation of its Dublin expansion came in a tweet by Ireland's Industrial Development Authority.
A spokeswoman for Twitter said: "The Twitter office in Dublin, our third location outside of the US, is a great next step in the company's global expansion."
If Google is anything to go by, Twitter will start in Dublin with finance, user support and marketing skills and expand from there.
Google set up its international HQ in Dublin in 2004 with 200 members of staff. Now it is one of Dublin's biggest employers with 2,200 employees.
The IDA is trying to make Dublin the social media and online capital of Europe. Facebook will employ around 300 by the end of 2012, LinkedIn 140. Zynga, which has just opened its European offices in Dublin, will hire about 100; PayPal employs about 1,300; while eBay has about 1,000 staff.
"IDA is absolutely thrilled that Twitter has decided to establish an international office in Ireland. Twitter is a fantastic addition to Ireland's dynamic digital media cluster and we are excited to support the company's continued international growth." says Barry O'Leary, chief executive of the IDA.
Ireland is attractive to multinationals because of its 12.5% corporate tax rate, but even more attractive because of "transfer pricing". This is a tax law which allow the likes of Google to legally shuttle profit into and out of subsidiaries in Ireland and on to tax havens. Google, which funnels all its European revenues through Dublin, pays 2.4% tax on operations outside the US.
However, Ireland is not quite like Luxembourg. Companies have to have fully blown operations in the country to take advantage of the tax-friendly arrangements.
Source: http://www.guardian.co.uk/technology/2011/sep/26/twitter-international-hq-dublin
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