Business News

Microsoft Faces Investor Call to Publish Global Tax Affairs

Distressed Patriotic Flag Unisex T-Shirt - Celebrate Comfort and Country $11.29 USD Get it here>>


LONDON—Investors managing more than $350 billion of assets have demanded that Microsoft publish more transparent tax and financial information, as tech giants face growing scrutiny globally over their tax affairs.

A shareholder resolution on tax transparency had been filed to Microsoft ahead of its annual investor meeting this year, said the organiser of the action, Britain-based proxy advisers Pensions & Investment Research Consultants (PIRC).

Investors including Nordea, AkademikerPension and Greater Manchester Pension Fund had backed the resolution, PIRC said.

The resolution calls on the company to publish financial and tax information on a country-by-country basis outside its home market of the United States so investors can assess whether it is paying fair taxes and identify any risks posed by tax reforms.

It also calls on Microsoft to produce a tax transparency report in line with the tax standard of the Global Reporting Initiative, a standards organisation.

A similar resolution has also been filed to tech giant Cisco, PIRC said.

Investors voted on a tax transparency resolution at Amazon’s investor meeting in May, but it and other investor-led resolutions failed to get sufficient support to pass.

Microsoft and Cisco were not immediately available for comment.

By Iain Withers

Reuters

Follow



Source link

TruthUSA

I'm TruthUSA, the author behind TruthUSA News Hub located at https://truthusa.us/. With our One Story at a Time," my aim is to provide you with unbiased and comprehensive news coverage. I dive deep into the latest happenings in the US and global events, and bring you objective stories sourced from reputable sources. My goal is to keep you informed and enlightened, ensuring you have access to the truth. Stay tuned to TruthUSA News Hub to discover the reality behind the headlines and gain a well-rounded perspective on the world.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.