The US tax authorities are demanding a huge back tax payment of approximately $29 billion from Microsoft. The software giant wants to defend itself against this. The 28.9 billion dollars (approximately 27.2 billion euros) plus fines and interest were claimed for the years 2004 to 2013, Microsoft announced on Wednesday.
The tax authorities IRS (Internal Revenue Service) sees problems with prices when invoicing between parts of the company. Microsoft does not agree with the request. The group will first file an objection with the tax authorities and, if necessary, also take legal action. A resolution is not expected within the next twelve months.
Investors were calm about the enormous additional demand: the shares initially barely reacted to the news.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
