Microsoft owes the Internal Revenue Service (IRS) $28.9 billion in back taxes, not including penalties and interest, at least according to the tax authority.
$28.9 billion in back taxes, not including penalties and interest, at least according to the tax authority. The tech giant haswith the Securities and Exchange Commission that it received a series of Notices of Proposed Adjustment from the IRS for the tax years 2004 to 2013.
To be exact, the IRS audit centered around a practice known as"transfer pricing," which legally allowed companies to allocate profits and expenses between their operations in different regions. Microsoft explained that a lot of large multinational corporations practice this cost-sharing scheme to reflect"the global nature of their business.
Microsoft explained that the issues raised by the IRS are only relevant to those aforementioned years, because it has since changed its corporate structure and practices. Nevertheless, the IRS believes Microsoft owes $28.9 billion in back taxes. The tech giant disagrees, as expected, and said that newer tax laws could reduce the back taxes it owes from this particular audit by $10 billion.
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