Sep 2012
24

Microsoft avoided billions in taxes, Senate memo says

WASHINGTON — A Senate committee memo says Microsoft used aggressive international tax maneuvers to avoid billions of dollars in taxes over the past three years.  Sen. Carl Levin, a Michigan Democrat and chairman of the Permanent Subcommittee on Investigations, didn’t accuse the companies of acting illegally.  “These loopholes and abuses exact a tremendous cost,” Levin told reporters at a briefing Thursday. “What these gimmicks do is shift the burden of taxes onto citizens and business who don’t use armies of lawyers and accountants.”
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