Offshore havens saved Microsoft $7B in taxes – Senate panel

microsoft-building-monster

Microsoft has saved nearly $7 billion off its U.S. tax bill since 2009 by using loopholes to shift profits offshore, a Senate panel said in a report released Thursday.

Hewlett-Packard also avoided paying taxes through a series of loans, some spanning 30 months, that shifted billions of dollars between two offshore subsidiaries, according to the Senate panel.

Read more FULL ARTICLE

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s