Last year’s stay-at-home-economy, as we all know, inflated the pockets of Elon Musk and Jeff Bezos’ Silicon Valley scrunchers. These include Bill Gates, who is in his pocket with tech giant Microsoft in Ireland. Record profit Thanks for the sale of the copyrighted software, $ 314.7 billion.
This figure actually went into the treasury of the subsidiary Round Island One Limited, Based in Dublin. However, the Irish taxman did not collect a single cent from the Redmond giant’s profit jump: Here’s the trick.
Microsoft makes record profits in Ireland but pays zero taxes: Here’s the trick
Round Island One Ltd collects for parent Microsoft License fee For use of proprietary software. A Great turnover, If we think about the portfolio of programs that the parent company can focus on, from the education sector to digital media.
Subsidiary, this is where Crux, works Physical location 70 at Sir John Rogerson’s dock, in Dublin, but not there Tax residence It’s actually a crossroads of dumping, the Bermuda archipelago, unpredictable Corporate profit tax. The workforce, moreover, is reduced to nothing: no employees, three directors, all from the United States.
Behind the revenue jump, Microsoft brought in two dividends 55 billion Overall, the assets merged into Round Island One Ltd are accompanied by the demolition and subsequent liquidation of two other subsidiaries. So within a year the profit was gone 10 Done 300 billion.
The shadow of Microsoft’s lowest tax
The proposal by the Biden-Yellen duo is that good oil-filled gears that need to be handled now, that is, the global minimum tax for multinationals – the rate has not yet been set but will go up to 15% – will slow it down exponentially. Tax exemption Of large groups.
In London today and tomorrow G7 Finance Ministers Meeting, Will be one of the binders on the corporate tax table. Once the exact framework for rates is found, the new tax is likely to be approved by the end of the year.
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