Microsoft accused of immoral tax practices in UK
Quotes

Microsoft accused of immoral tax practices in UK

Last Updated: Monday, December 10, 2012, 12:08
 
 Comment 0
 
Microsoft accused of immoral tax practices in UK
London: Now, Microsoft has been accused of indulging in ‘immoral tax practices’ in Britain after it emerged that the software giant pays no UK tax on 1.7 billion pounds of online revenues.

The US-based firm is believed to be channelling online payments for its Windows 8 operating system and other downloads of software through Luxembourg and Ireland, where corporation tax is lower than the UK.

This means that Microsoft’s Irish registered company, Microsoft Ireland Operations Ltd, has reported 1.7 billion pounds of revenues from the UK on which the company has paid no UK corporation tax, the Telegraph reports.

Microsoft, however, said that ‘it pays all due taxes, as required by law, worldwide. Microsoft subsidiaries are fully subject to tax in the jurisdictions in which we operate.’

“We are regularly audited by major tax jurisdictions, which ensure the company is complying with all rules and regulations,” the firm said.

The scrutiny on the company follows criticism of other Internet giants such as Amazon and Google, and popular coffee chain Starbucks.

ANI



First Published: Monday, December 10, 2012, 12:08


Comments


comments powered by Disqus
BRICS Annual Summit 2014
BRICS Annual Summit 2014
Tata Zest Standout Features: In Pics
Tata Zest Standout Features: In Pics
New car launches in July
New car launches in July
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics
Google I/O 2014
Google I/O 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved