Software giant Microsoft has issued a stern threat to the Obama
administration over its concerns of the US income tax deferral regime.
Steve Ballmer, CEO of Microsoft, said the company would be ‘better off taking
lots of people and moving them out of the US’, particularly given current
constraints of the the US corporate tax system, according to
US multinational company are able to deduct foreign investment against US
taxes, and defer paying tax on any profits made until its brought back to the
US. The White House has proposed a plan which would mean companies would not
receive a deduction on offshore investments until tax has been paid on offshore
The measure is expected to result in an additional $60.1bn (£37bn) of tax
revenue for the US treasury.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states