Microsoft Trying To Hide Irish Tax Haven Data
from the tax-dodge?-what-tax-dodge? dept
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."
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Reader Comments
Subscribe: RSS
View by: Time | Thread
[ link to this | view in thread ]
trust this you son of a $%^&*!
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
[ link to this | view in thread ]
Tax Haven
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`.
[ link to this | view in thread ]
[ link to this | view in thread ]
Regarding "what's wrong with lower one's tax burde
[ link to this | view in thread ]
Tax Havens Your Choice
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.
[ link to this | view in thread ]