Microsoft Trying To Hide Irish Tax Haven Data

from the tax-dodge?-what-tax-dodge? dept

Tue, Mar 14th 2006 1:47am — Mike Masnick

theodp writes "After coming under fire in recent months for transferring revenue and $16+ billion of assets to Ireland to enjoy tax benefits, the WSJ reports the software giant has taken the unusual step of revamping the shareholding structures of two of its Dublin-based subsidiaries, which will allow the units to shield statements of their accounts from the public. The move goes against the wishes of the Irish government's director of corporate enforcement, who said he is powerless to stop Microsoft's actions. Microsoft did not explain why it chose to re-register the two subsidiaries when questioned about the move."

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mark, 14 Mar 2006 @ 4:50am

Finest legal advice money can buy....wish us middle classers had tax dodges like that...
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JP, 14 Mar 2006 @ 6:42am

trust this you son of a $%^&*!
Microsoft said screw America...lol. Anti-trust huh? Well trust this you son of a $%^&*!...lol

I wonder if they have one of those savings accounts I can open for $10 in Ireland!? Hey us poor folk deserver a tax shelter too! Or should I say tax shack..

Microsoft, I hate you. But nice going.

Jon-Paul
Microsoft Certified Systems Engineer. :-).lol
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Sergei, 14 Mar 2006 @ 7:43am

Tax Haven
> I wonder if they have one of those savings accounts I can open for $10

No they don't. It's very difficult to open an account because of money laundering laws. What they will do is force you to deposit your own money and keep it locked up for five working days so as they can earn interest off it and charge you money for the privilage.. Deposit a cheque for £70.00 and you'll get back £40.00, the rest gone in bank charges. If you query this practice you risk getting your account canceled.

At the same time expat Russions are going round buying up businesses with certain locals fronting as the registered owners. Internet cafes and Burea de change are most popular as it's difficult to monitor cash flow. It's a good place to do 'business`.
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Anonymous Coward, 14 Mar 2006 @ 12:02pm

There's nothing wrong with lowering one's tax burden. If MS makes and sells a copy of software overseas, why should they pay U.S. taxes on it? In an era where companies, products and customers are global, what's wrong with shuffling assets to best lower the tax burden and leave more assets in the pockets of (mostly U.S.) shareholders?
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Cliff Wells, 16 Mar 2006 @ 9:44am

Regarding "what's wrong with lower one's tax burde
The problem with "lowering one's tax burden", as you so euphemistically put it, is that this option of reducing your "burden" is the exclusive privilege of the rich. The rich are able to afford tax shelters the poor (or even not quite rich) are not. But, because the rich pay less taxes, that means more taxes for the rest of us you dolt.
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David, 21 Aug 2006 @ 2:27am

Tax Havens Your Choice
Everyone citizen private or corporate of every country pays some kind tax.
If a private or corporate entity does not want to pay taxes in a certain
jurisdiction they can move elsewhere. Though american citizens are liable
for taxes no matter where they live, they do get a tax break of $ 80k by
moving abroad. I think that taxes are necessary but the real problem is do
the goverments use the money correctly.In most cases probably not.
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