Microsoft, 315 billion in profits in Ireland (75% of GDP) and zero taxes paid – Corriere.it

Microsoft, 315 billion in profits in Ireland (75% of GDP) and zero taxes paid – Corriere.it
Microsoft, 315 billion in profits in Ireland (75% of GDP) and zero taxes paid – Corriere.it

It is possible to make profits for 315 billion dollars and not pay even a euro of taxes on it? Yes. The Irish subsidiary of Microsoft Round Island One Limited, a subsidiary of Bill Gates’ founded group that collects license fees for using copyrighted Microsoft software worldwide. In 2020, the company made a record profit of $ 314.7 billion. And, thanks to the tax residency in Bermuda paradise that does not impose taxes on corporate profits, he has not paid any taxesin Ireland. Zero. Nisba. In Bermuda, the company has a tax address but has no employees, apart from three directors (all with residence in the USA). The fact, highlighted by the British newspaper “Guardian”, is taken from the official financial statements published by the same company.

Microsoft and Ireland’s GDP

Zero taxes for a turnover that is not far from the amount of National GDP Irish 2020: 357 billion euros, or 437 billion dollars. In fact, what Microsoft takes away from the Irish tax is almost three-quarters of the entire country’s income. According to the Irish Times, which raised the case, the proceeds then did arrive in two tranches 55 billion in dividends to the parent company. The profits of Round Island One, founded in 2001 with physical headquarters at number 70 of Sir John Rogerson’s Quay in Dublin, they have literally exploded in the last 12 months: they were only a scant 10 billion in the previous year. According to the Irish Times, the boom in profits is the result of surplus and assets received by two subsidiaries that were liquidated during the year: Microsoft Luxembourg Usa Mobile Sarl and Macs Holdings Ltd. The net impact of the company reorganization was the collection of assets of 301.1 billion dollars.

La corporate tax

The tax avoidance of large companies and multinationals is an issue that has risen to the top of the agenda of world politics. Leaders – Joe Biden in the head – they are arguing one corporate tax globale. The agreement on the American president’s proposal to put it at 15% will probably come to G7 starting Friday in Great Britain. Finance ministers from the Group of Seven Rich Democracies will begin economic cooperation talks in London. Biden’s push for a global minimum corporate tax of at least 15% unlocked stalled global tax negotiations and raised the prospects for a deal this year, though key issues such as the effective rate remain to be decided.

Source

Microsoft billion profits Ireland GDP taxes paid Corriereit

PREV WSBK | Misano, Race-1: Rinaldi’s masterpiece, Rea 3rd – Moto
NEXT so the masks have increased the disputes in Volo- Corriere.it