Tech large Microsoft introduced Wednesday that it has obtained a notification from the U.S. Internal Revenue Service (IRS) for a further tax cost of $28.9 billion.
The assertion indicated that the notification issues an ongoing dispute with the IRS regarding how the corporate distributed its earnings amongst completely different international locations and areas.
In this context, the IRS reportedly demanded a further tax cost of $28.9 billion, together with penalties and curiosity from Microsoft.
Microsoft disagreed with the IRS’s request and, if crucial, would enchantment with judicial authorities, stated the assertion.
It emphasised that Microsoft has at all times complied with IRS rules and paid taxes within the United States and globally, with over $67 billion in taxes paid to the U.S. since 2004.
“Microsoft disagrees with these proposed adjustments and will pursue an appeal within the IRS, a process expected to take several years,” the corporate stated in its submitting.
“We believe we have always followed the IRS’s rules and paid the taxes we owe in the U.S. and around the world,” it added.
Source: www.dailysabah.com