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Fair Tax And The Microsoft No Tax $300 Billion Profit

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Certain people are being less than open and honest here:

Paul Monaghan, the chief executive of the Fair Tax Foundation, said: “The tax aggression being displayed by Microsoft, and facilitated by Ireland, is beyond belief.

“Despite shareholder dividends of $55bn being paid out, not one cent in tax has been paid.

This is of course untrue. As an American company Microsoft is, at the top, taxed in the United States. Offshore profits of American companies are no longer untaxed, Trump closed that loophole.

The Labour MP Margaret Hodge, who has long campaigned against tax avoidance, said: “It is unsurprising – yet still shocking – that massively wealthy global corporations openly, unashamedly and blatantly refuse to pay tax on the profits they make in the countries where they undertake business.

“It is arrogant behaviour from large organisations like Microsoft that demonstrate how vital and necessary President Biden’s global corporate tax plan is. The UK must unreservedly grasp this opportunity to embrace Biden’s proposals.”

Hmm. As to what actually happened:

It’s a corporate reorganisation.

Someone here is being a lying toad and I’m not wholly and completely sure that it’s Microsoft.

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2 COMMENTS

  1. “…The Labour MP Margaret Hodge, who has long campaigned against tax avoidance…”

    Clearly this a totally different Margaret Hodge from the Labour ex-minister who was accused by the Telegraph of using a family-owned company to minimise her tax bill, and by the Mail of using a Liechtenstein trust to minimise her tax bill.

    Delighted to have cleared that up for you.

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