{"id":1799,"date":"2012-09-22T05:04:04","date_gmt":"2012-09-22T05:04:04","guid":{"rendered":"http:\/\/praag.org\/?p=1799"},"modified":"2012-09-22T12:42:11","modified_gmt":"2012-09-22T12:42:11","slug":"microsoft-evaded-65-billion-in-us-taxes","status":"publish","type":"post","link":"https:\/\/praag.org\/?p=1799","title":{"rendered":"Microsoft evaded $6,5 billion in US taxes"},"content":{"rendered":"<figure id=\"attachment_1795\" aria-describedby=\"caption-attachment-1795\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/praag.org\/wp-content\/uploads\/2012\/09\/MicrosoftLogo.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-1795\" title=\"MicrosoftLogo\" src=\"http:\/\/praag.org\/wp-content\/uploads\/2012\/09\/MicrosoftLogo-1024x680.jpg\" alt=\"\" width=\"1024\" height=\"680\" srcset=\"https:\/\/praag.org\/wp-content\/uploads\/2012\/09\/MicrosoftLogo-1024x680.jpg 1024w, https:\/\/praag.org\/wp-content\/uploads\/2012\/09\/MicrosoftLogo-300x199.jpg 300w, https:\/\/praag.org\/wp-content\/uploads\/2012\/09\/MicrosoftLogo.jpeg 1680w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/a><figcaption id=\"caption-attachment-1795\" class=\"wp-caption-text\">The giant US software company evaded $6,6 billion in taxes<\/figcaption><\/figure>\n<p style=\"text-align: justify;\">Large multinational companies such as Microsoft and Hewlett Packard have used tax loopholes to avoid billions of dollars in income taxes over the last three years, according to a Senate committee report issued Thursday.<\/p>\n<p style=\"text-align: justify;\">The report says multinationals dodge taxes by shifting profits to low-tax jurisdictions overseas and using loopholes to avoid taxes on repatriated income. The Senate Permanent Subcommittee on Investigations released the report ahead of a hearing Thursday at which representatives of Microsoft and Hewlett Packard were to testify.<\/p>\n<p style=\"text-align: justify;\">The report says Microsoft used offshore tax avoidance strategies with subsidiaries in Puerto Rico, Ireland, Singapore and Bermuda to save at least 6.5 billion dollars in federal corporate income taxes.<\/p>\n<p style=\"text-align: justify;\">Hewlett-Packard used a different tactic, according to the report. It created a series of occasional short-term internal loans with the apparent support of its auditor that allowed it to access offshore cash for domestic operations without paying taxes.<\/p>\n<p style=\"text-align: justify;\">Senator Carl Levin, a Michigan Democrat and chairman of the Permanent Subcommittee on Investigations, didn&#8217;t accuse the companies of acting illegally.<\/p>\n<p style=\"text-align: justify;\">&#8220;Major US corporations are increasingly earning their profits here but shipping them overseas to avoid paying the taxes they owe,&#8221; Levin said in a news release.<\/p>\n<p style=\"text-align: justify;\">&#8220;At a time when we face such difficult budget choices, and when American families are facing a tax increase and cuts in critical programs from education to health care to food inspections to national defense, these offshore schemes are unacceptable.&#8221; &#8211; DPA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Large multinational companies such as Microsoft and Hewlett Packard have used tax loopholes to avoid billions of dollars in income taxes over the last three years, according to a Senate committee report issued Thursday. The report says multinationals dodge taxes by shifting profits to low-tax jurisdictions overseas and using loopholes to avoid taxes on repatriated &hellip; <a href=\"https:\/\/praag.org\/?p=1799\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Microsoft evaded $6,5 billion in US taxes&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,3],"tags":[1202,1265,1264,1263],"class_list":["post-1799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-finance","category-news","tag-microsoft","tag-ofsshore","tag-tax-evasion","tag-taxes"],"cc_featured_image_caption":{"caption_text":false,"source_text":false,"source_url":false},"jetpack_featured_media_url":"https:\/\/praag.org\/wp-content\/uploads\/2012\/09\/MicrosoftLogo.jpeg","_links":{"self":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/1799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1799"}],"version-history":[{"count":4,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/1799\/revisions"}],"predecessor-version":[{"id":1801,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/1799\/revisions\/1801"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/media\/1795"}],"wp:attachment":[{"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}