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General

Microsoft pays USD 140 mln in China 'tax' settlement

Wednesday 26 November 2014 | 08:50 CET | News
The Chinese government has charged Microsoft USD 140 million in back taxes and interest, the Financial Times reports. A report in Xinhua, the official Chinese newsagency, did not name Microsoft but said that a company whose name begins with 'M' and with financial details identical to those of Microsoft had been penalised for transfer pricing. Xinhua said that while Microsoft's China based-business were officially lossmaking, the profits were being booked in offshore tax havens, adding that Microsoft had admitted to the tax evasion. Microsoft contradicted much of the Xinhua article, instead

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Categories: General
Companies: Microsoft
Countries: China
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