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BBC News – Microsoft and HP rapped by US Senate over tax havens

20 Sep

Gees you mean Tech companies are BIG GREEDY CORPORATIONS too….say it ain’t so………………

 

20 September 2012 Last updated at 15:40 

Microsoft and HP rapped by US Senate over tax havens

The Senate panel said Microsoft had reduced its tax bill by $4.5bn

 

The US Senate has criticised Microsoft and Hewlett-Packard for their use of tax avoidance schemes, which it says is rampant in the tech sector.

The Senate’s Permanent Subcommittee on Investigations said the companies used places such as the Cayman Islands so they did not have to pay US taxes.

The chairman of the panel said their practices ranged from “egregious to dubious validity”.

Carl Levin has been investigating offshore tax havens for years.

via BBC News – Microsoft and HP rapped by US Senate over tax havens.

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