Oct 12, 2023

Microsoft in $29bn back taxes dispute in US

Microsoft has said it will contest a US tax authority's request to pay an additional $28.9bn in back taxes for the years 2004 to 2013. Tech giants have been criticised for reporting lower profits in high-tax countries and higher profits in lower-tax jurisdictions to minimise their tax burden. In a securities filing, Microsoft said the IRS was seeking an additional tax payment of $28.9bn plus penalties and interest. Other American tech firms such as Amazon and Facebook have also faced similar calls to pay more taxes. This year, Microsoft has also come under scrutiny from other US authorities.

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