Tax debt shock for Microsoft
In a filing with the U.S. Securities and Exchange Commission (SEC), Microsoft announced that it has received a notice from the IRS regarding the 2004-2013 tax period.
The statement indicated that the notice is related to an ongoing dispute with the IRS regarding the audit of how the company allocates its profits across different countries and regions, noting that in this context, the IRS is demanding an additional $28.9 billion in taxes from Microsoft, in addition to penalties and interest.
The statement reported that Microsoft does not agree with the IRS's additional tax demand and that the situation will be challenged before judicial authorities if necessary.
OVER $67 BILLION IN TAXES PAID
The statement emphasized that Microsoft has always complied with IRS rules and paid its taxes in the U.S. and around the world, noting that over $67 billion in taxes have been paid to the U.S. since 2004.
The statement emphasized that as of September 30, the company's income tax contingency reserves are sufficient.
News Source: AA
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