International taxation and using its loopholes to pay the absolute minimum in taxes can become a b!tch in other areas...

Also, when you try to use all the data that you get from your different users (Instagram, Facebook, etc.) you need one umbrella entity in the EU, otherwise you cannot just simply sell customer data between Facebook and, say, Insta.

"Monday’s decision is the third time Ireland has fined Meta and its subsidiaries, including WhatsApp and Instagram, in a privacy case over the past 15 months, bringing the combined financial penalties to the equivalent of more than $900 million. The other cases relate to Instagram’s handling of children’s data and WhatsApp’s transparency about how it handles user information."

This is the 4th 3rd fine for them, totalling to some 1bln. There are 9 other cases in progress in Ireland alone.

This does not seem to be much in itself, but continuously ignoring EU rules is not a good long term strategy.