Media attention on Amazon and Microsoft continues
The spotlight continues to fall on Microsoft and Amazon’s tax affairs following CICTAR’s investigation into the tech multinationals.
Meanwhile, pressure continues to pile on from investors to do the right thing and end their tax minimisation strategies.
In the article, CICTAR principal analyst Jason Ward claims ‘that Microsoft Canada’s move to Ireland prompted the need for clearer disclosures.
“There is no public announcement of the transfer of ownership from Microsoft Canada to Microsoft Round Island One and subsequent transfer to Microsoft Ireland Research, both Irish incorporated subsidiaries,” said Mr. Ward. “If not for tax avoidance, what is Microsoft’s purpose in owning Canadian and global operations through Irish structures that were previously Bermuda tax resident?”’
Business and finance magazine Forbes has profiled the recent spate of investor activism pushing companies, like Amazon, CISCO and Microsoft, to sign up to tax transparency measures. CICTAR, together with our allies in Pensions & Investment Research Consultants (PIRC), have coordinated these efforts in all three companies, leading to the highest shareholder votes in favour of tax transparency in these companies’ histories.