LinkedIn keeps Irish figures to itself

Professional social networking site LinkedIn has become the latest multinational to opt to keep its financial performance to itself, following its decision to register as an unlimited company with the Companies Registration Office (CRO).

Twitter, which recently announced that it would expand its Dublin operation, increasing staff numbers to around 200 by the end of this year, is another multinational which is registered as an unlimited company in Ireland.

LinkedIn recently filed its accounts for 2012 with the CRO, but as an unlimited company it no longer reveals information such as its turnover and profit figures - as well as how much tax it pays in Ireland. While an unlimited corporate status can bring with it increased risk, as the personal assets of the principal parties can be drawn upon to settle debts or claims against the business, this can be offset by wrapping an Irish unlimited company into a parent company with limited protection that is outside the EU, such as the Isle of Man or Jersey.

In its most recent published accounts, for the year to December 31st 2011, LinkedIn reported a loss of €6 million on sales of €133 million, according to Top1000.ie. As such, it paid no corporation tax in 2011, while a loss of €3.7 million in 2010 meant that it also paid no tax in that financial year.

The company employs more than 100 people on Sir John Rogerson's Quay in Dublin, alongside other tech giants Google and Facebook.