Revenues at the main Irish based unit of social media giant Facebook last year surged by 34.5% to a record €34.32 billion - or an average of €94m a day.
New accounts show that the €8.8 billion surge in revenues to €34.32 billion contributed to Facebook Ireland Ltd's pre-tax profits increasing by 33% to €481.88m for 2019.
The company's corporate tax liability increased almost three fold from €63.2m to €173.22m.
The chief reason for the sharp increase in corporation tax came after Facebook Ireland agreed in October "to the resolution of certain tax matters with tax authorities relating to prior tax years".
The company note states that this resulted in additional taxes due of €53m.
It also said that the tax liability is recognised for the 2019 accounts along with a related interest liability and expense of €27m.
As a result, Facebook Ireland's post tax profits for last year totalled €306.65m.
The accounts were signed off on December 2.
They also reveal that Facebook Ireland last year set aside €302.3m concerning "amounts identified for administrative fines arising from various regulatory compliance matters principally under investigation by the relevant data protection supervisory authorities".
The accounts state that Facebook Ireland's best estimate of the expenditure used to discharge these obligations to be between €154m and €541m.
The estimate is based on advice from outside counsel, regulatory correspondence received to date, relevant mitigating factors and comparison with similar matters, the company added.
Facebook Ireland expects the regulatory matters to be resolved over the next two financial years.
The revenues generated by Facebook Ireland last year account for 59% of the social media giant's global revenues of $70.6 billion in 2019.
Numbers employed by Facebook Ireland last year increased by 46% or 614 to 1,944.
The company last year paid out €201m in salaries which equates to an average salary of €103,443.
The salary total of €201m does not include €58.49m in share based payments and €34m in other benefits to employees.
Facebook Ireland's staff here are made up of sales and marketing - 740, community operations - 512, administration - 448 and engineering 244.
Directors' pay increased from €706,000 to €1.3m as an additional three people joined the board in 2019.
The company's profits take account of non-cash depreciation costs of €47.3m and research and development costs of €39m.
The directors state that the revenue increase was due to growth in advertising revenues from third party customers.
The company last year paid a dividend of €15m.
On the impact of Covid-19, Facebook Ireland said it has continued business operations with limited disruption and has remained engaged in performing its principal activities.
The company's largest expense was administrative expenses, which totalled €32.54 billion.
It recorded an operating profit of €488m and net interest paid out of €7m resulted in the pre-tax profit of €481.88m.
At the end of 2019, Facebook Ireland's shareholder funds totalled €2.23 billion, including accumulated profits of €1 billion.
The company's cash funds last year increased from €1.2 billion to €1.79 billion.