Tech

Microsoft to appeal $28.9bn tax decision

US Internal Revenue Service decision relates to a 2012 audit into transfer pricing involving the company

The company said the proposed additional tax bill of $28.9 billion doesn’t include taxes paid under the Tax Cuts and Jobs Act of 2017

Tech giant Microsoft has said it is to appeal a US Internal Revenue Service (IRS) decision that it owes at least $28.9 billion in taxes related to how it allocated income and expenses among global subsidiaries from 2004 to 2013.

The company said in a regulatory filing filed on Wednesday that it disagreed with the “notices of proposed adjustment” to its federal tax filings and will appeal the decision.

The dispute centre on a 2012 ...