Now, Microsoft accused of 'immoral tax practices in UK' for paying 'no tax' on 1.7bn pounds revenue
London, Dec 10 (ANI): Now, Microsoft has been accused of indulging in 'immoral tax practices' in Britain after it emerged that the software giant pays no UK tax on 1.7 billion pounds of online revenues.
The US-based firm is believed to be channelling online payments for its Windows 8 operating system and other downloads of software through Luxembourg and Ireland, where corporation tax is lower than the UK.
This means that Microsoft's Irish registered company, Microsoft Ireland Operations Ltd, has reported 1.7 billion pounds of revenues from the UK on which the company has paid no UK corporation tax, the Telegraph reports.
Microsoft, however, said that 'it pays all due taxes, as required by law, worldwide. Microsoft subsidiaries are fully subject to tax in the jurisdictions in which we operate.'
"We are regularly audited by major tax jurisdictions, which ensure the company is complying with all rules and regulations," the firm said.
The scrutiny on the company follows criticism of other Internet giants such as Amazon and Google, and popular coffee chain Starbucks. (ANI)
Read More: Ireland | Luxembourg | Telegraph Work Shop | Garha Mdg | Ghat Piparia | Khajri | Anandnagar So | Adhartal | Subhas Nagar | Ranjhi | Ranjhi Azad Nagar | Khamaria Market | Gwarighat | Polipahar | Perfect Pottories | Vehicle Factory | Richhai | Reewan | Sukri | A.c.company
Israeli air strikes kill at least 18 in Gaza after truce collapse
August 21, 2014 at 12:39 AM
Donetsk residents flee the city as shelling intensifies
August 20, 2014 at 11:21 PM
Memories of German WWI atrocities haunt Belgium
August 20, 2014 at 11:06 PM
Lebanese church distributes aid for Iraqi refugees
August 20, 2014 at 11:00 PM
Survivors enlisted in Sierra Leone's Ebola battle
August 20, 2014 at 10:49 PM
"SOUTH AUSTRALIAN PREMIER LAUNCHES DREAM TEAM 15 (NNIS EXCLUSIVE) "
August 20, 2014 at 9:53 PM