‘Microsoft Corp. is currently sitting on almost $29.6 billion it would owe in U.S. taxes if it repatriated the $92.9 billion of earnings it is keeping offshore, according to disclosures in the company’s most recent annual filings with the Securities and Exchange Commission. The amount of money that Microsoft is keeping offshore represents a significant spike from prior years, and the levies the company would owe amount to almost the entire two-year operating budget of the company’s home state of Washington.
The company says it has “not provided deferred U.S. income taxes” because it says the earnings were generated from its “non-U.S. subsidiaries” and then “reinvested outside the U.S.” Tax experts, however, say that details of the filing suggest the company is using tax shelters to dodge the taxes it owes as a company domiciled in the United States’
Latest posts by Niamh Harris (see all)
- Trump Says ‘I Think I Know’ Who Was Behind 9/11 Attacks - June 17, 2019
- Egypt’s Former President Mohamed Morsi Dies After Collapsing In Court - June 17, 2019
- Israel Has Almost 100 Nuclear Warheads International Watchdog Finds - June 17, 2019