Wednesday November 25, 2020

Ireland at centre of tax storm

Governments around the world are enraged at what they see as lost tax revenues from multinationals using tax strategies - with Ireland often at the middle of them, writes Ian Kehoe.

25th May, 2013
Using Irish subsidiaries, Microsoft "was able to reduce its 2011 US tax bill by $2.43 billion", according to a memo produced by Levin's investigative committee.

US - Washington state

Last September, US Senator Carl Levin used a chart to explain how Microsoft, the software giant with its headquarters in Richmond, Washington, used transfer pricing agreements to reduce its tax bill. Ireland was at the heart of the chart.

Using Irish subsidiaries, Microsoft "was able to reduce its 2011 US tax bill by $2.43 billion", according to a memo produced by Levin's investigative committee.

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