On the Taxcast this month, the story of what happened when the US tax authorities, the IRS, decided to crack down on Microsoft, one of the world's biggest tech companies. Worthy of a thriller movie with its twists and turns, there are many lessons for governments worldwide. And it's not over yet.
Featuring:
- Zorka Milin of the Financial Accountability and Corporate Transparency Coalition
- Paul Kiel of ProPublica
- Samantha Jacoby of the Centre on Budget and Policy Priorities
- Andrew Leigh, MP and Australian Treasury
- Alex Cobham of the Tax Justice Network
- Hosted and produced by Naomi Fowler of the Tax Justice Network
Transcript (some is automated) https://taxjustice.net/wp-content/uploads/2023/11/Transcript_Taxcast_Nov_23.pdf
Further reading:
How a slick accounting maneuver led to a $29 billion tax bill for Microsoft https://fortune.com/2023/10/13/microsoft-back-taxes-irs-29-billion-propublica/
The IRS Decided to Get Tough Against Microsoft. Microsoft Got Tougher https://www.propublica.org/article/the-irs-decided-to-get-tough-against-microsoft-microsoft-got-tougher
What the Microsoft Tax Case Shows Us About Tax Transparency https://thefactcoalition.org/what-the-microsoft-tax-case-shows-us-about-tax-transparency/#:~:text=They%20had%20negotiated%20a%2015,Puerto%20Rico%20and%20the%20US.
FT confirms OECD lobbied against Australian tax transparency https://taxjustice.net/press/ft-confirms-oecd-lobbied-against-australian-tax-transparency/#:~:text=The%20law%20requires%20multinationals%20operating,tool%20for%20accountability%20and%20deterrence.
Microsoft, Cisco Shareholder Votes Demonstrate Increasing Investor Demand for Tax and Offshore Transparency https://thefactcoalition.org/microsoft-cisco-shareholder-votes-demonstrate-increasing-investor-demand-for-tax-and-offshore-transparency/
KPMG's pitch to Microsoft: 'Planning Alternatives in Puerto Rico' https://www.documentcloud.org/documents/6556275-KPMG-2004-Pitch-to-Microsoft.html and Microsoft 2003 Memo on Puerto Rico Factory https://www.documentcloud.org/documents/6556274-Microsoft-2003-Memo-on-Puerto-Rico-Factory.html
Bipartisan Senate Action Passes Minimal Test for IRS Funding While Multiple House Republican Bills Fail https://www.cbpp.org/research/federal-budget/bipartisan-senate-action-passes-minimal-test-for-irs-funding-while-multiple
Revenue From BBB’s IRS Enforcement Funding Would Support Investments https://www.cbpp.org/blog/revenue-from-bbbs-irs-enforcement-funding-would-support-investments
UN adopts plans for historic tax reform https://taxjustice.net/press/un-adopts-plans-for-historic-tax-reform/
“No” voters on UN tax reform enable 75% of global tax abuse https://taxjustice.net/press/no-voters-on-un-tax-reform-enable-75-of-global-tax-abuse/