Microsoft Hit With $140 Mn Tax Bill In China -------------------------------------------------------- Microsoft and the Chinese government appear to have reached a deal over back taxeMicrosofts latest run-in with the Chinese government looks to have resulted in a $140m penalty pertaining to cross-border tax. According to Reuters, Chinas official news bureau Xinhua reported that a company whose name begins with M and which established a wholly-owned foreign subsidiary in Beijing in 1995 has been fined over transfer pricing. The company was ordered to pay the Chinese government 840m yuan ($137m) in back taxes and interest as well as over 100m yuan ($16m) in additional taxes a year in the future, Reuters said. The Xinhua report cited by Reuters said the company M reported losses in China for more than six years whereas its peers had reported profits, leading to the conclusion by authorities that Ms behaviour was unreasonable.
Posted on: Thu, 27 Nov 2014 13:50:00 +0000
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