US computer technology giant “Microsoft Corp.” has avoided paying multibillion-dollar taxes in Britain, Australia and New Zealand, despite the company winning lucrative public sector contracts in those countries, according to a study by the Center for Business Taxation and Research (CICTAR).
The company, which has always claimed to comply with the laws and regulations of the countries where it operates, has denied national coffers much-needed revenue while receiving taxpayers’ money, according to CICTAR.
“In several cases, Microsoft has not paid taxes in recent years, diverting its income to companies with tax residence in Bermuda or other well-known tax havens,” the center explains.
According to the study, the company’s Irish unit Microsoft Global Finance, which has its tax residence in Bermuda, consolidated more than $100 billion in investments in 2020 and paid no taxes despite an operating profit of $2.4 billion.
