InfoAnda - Microsoft, HP skirted taxes via offshore units: Senate panel |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Sharp unveils 3D displays that require no glasses | 2 April 2010
Woman Pleads For Return Of 300-Pound Hippo | 26 December 2009
Security high as Prince William and Kate in Belfast | 9 March 2011

Obama, family out in Georgetown | 20 September 2009

Forum Views () Forum Replies ()

Read more with google mobile : Microsoft, HP skirted taxes via offshore units: Senate panel |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Anatole Kaletsky Reihan Salam Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Mark Leonard Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (2) Counterparties: Today's Best Links Medicine gone horribly wrong Fortune dives into a medical device giant's decision to illegally test a bone cement on patients, which reportedly resulted in at least five deaths. Read more at Counterparties Debt colletor's latest tricks The importance of Occupy Wlal Street Get Counterparties delivered to your inbox! Follow Reuters Facebook Twitter RSS YouTube Read Exclusive: Western report - Iran ships arms, personnel to Syria via Iraq 19 Sep 2012 Samsung to add iPhone 5 to U.S. lawsuits vs Apple 9:27am EDT Factory, jobless claims data signal weakness 11:00am EDT Madoff victims to receive $2.48 billion payout 10:15am EDT Pawlenty to leave Romney campaign, head bank lobbying group 12:39pm EDT Discussed 270 New video shows Romney saying Palestinians don’t want peace 119 Romney derides Obama supporters in hidden camera speech 98 Ryan, taking hard line, vows to repeal Obama healthcare law Sponsored Links Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption World Record attempts A look at the Guinness World Record attempts that have been made. Slideshow Battle for Syria The battle for Syria's biggest city, Aleppo. Slideshow Microsoft, HP skirted taxes via offshore units: Senate panel Tweet Share this Email Print Related News Tax ruling threatens commodity mutual funds: Kemp Fri, Sep 14 2012 Whistleblower in UBS tax case gets record $104 million Tue, Sep 11 2012 IRS warned, but did not act on tax strategy for private equity Mon, Sep 3 2012 HP posts mega-loss after EDS writedown Wed, Aug 22 2012 Dell's outlook disappoints as PC market falters Wed, Aug 22 2012 Analysis & Opinion Essential reading: Next school crisis for Chicago is its dwindling pension, and more Essential reading: No sales-tax effect on Amazon in Texas, and more Related Topics Tech » A variety of logos hover above the Microsoft booth on the opening day of the International Consumer Electronics Show (CES) in Las Vegas January 10, 2012. Credit: Reuters/Rick Wilking By Kim Dixon WASHINGTON | Thu Sep 20, 2012 11:55am EDT WASHINGTON (Reuters) - Technology giants Microsoft Corp and Hewlett-Packard Co used offshore units to shield billions of dollars from U.S. taxes by taking advantage of loopholes in the tax code, a U.S. Senate panel said on Thursday. Describing tax avoidance as rampant in the technology sector, the Senate's Permanent Subcommittee on Investigations said tech companies used intellectual property, royalties and license fees in tax havens such as the Cayman Islands to skirt U.S. taxes. "The high-tech industry is probably the No. 1 user of these offshore entities to transfer intellectual property," Senator Carl Levin, chairman of the panel, said at a news conference. "The tax practices and gimmicks range from egregious to dubious validity." The investigative panel's findings came hours ahead of a hearing Thursday, at which Levin is slated to reveal further details and to take testimony. Witnesses set to testify include tax executives from Microsoft and Hewlett-Packard, a tax executive from Big Four accounting firm Ernst & Young, and senior officials from the U.S. Internal Revenue Service. Levin has been investigating offshore tax evasion for years and often issues reports calling attention to the issue. The committee said that from 2009 to 2011, Microsoft shifted $21 billion offshore, almost half its U.S. retail sales revenue, saving up to $4.5 billion in taxes on goods sold in the United States. It also said the software giant shifts royalty revenue to units in lower-tax nations such as Singapore and Ireland, avoiding billions of dollars of additional taxes in the U.S. A spokesman for Microsoft could not be reached for comment. The panel said Hewlett-Packard funded U.S. operations with a stream of intercompany loans, using an exception in the law for short-term loans, to avoid billions of dollars in taxes. A spokesman for HP could not immediately be reached for comment. (Additional reporting by Lynnley Browning; Editing by Kevin Drawbaugh and Bernadette Baum) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (2) TomPaine1791 wrote: Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Thursday, 20 September 2012
U.N. chief says anti-Islam filmmaker abused freedom of expression |
Actress sues California man linked to anti-Muslim film |
U.S. official says Benghazi consulate was terrorist attack |
Israeli air strike kills 3 Hamas officers in Gaza |
News Corp investors press to keep hacking lawsuit alive |
Iran says six powers to meet before more nuclear talks |
Banking group warns of heightened Internet threat |
Nasdaq defends Facebook compensation plan-letter to SEC |
AOL names new CFO |
Adobe third quarter EPS in line, revenue falls short |
Groupon launches credit card payment business |
U.S. judges to decide venue for Facebook lawsuits |
Lindsay Lohan arrested in NY for hitting pedestrian |
Dave Matthews Band's Away From the World debuts at No. 1 |
Disney film to show how Mary Poppins flew from book to screen |
In Jonathan Demme's new film, there's hope after Katrina |
Cartoons in French weekly fuel Mohammad furor |
Exclusive: Western report
In Spain, economic crisis fans Catalan separatism |
India hit by national strike over economic reforms |
South African miners return to work as unrest spreads |
UK regulator clears BSkyB of links to hacking scandal |
Kurdistan seals oil products deal with Baghdad |
Actress sues California man behind anti-Muslim film |
Bank group warns of heightened risk of cyber attacks |
Sony game unit pegs profit hope on PS3, handhelds weak |
HTC unveils two Windows phones, multiple customers |
Google seen taking Facebook's crown in U.S. display ads |
Salesforce launches new social media software to fend off competition |
Why are 5 million kids on Facebook if it doesn't want them? |
Sprint says passed 1 million sales of LTE phones |
Google competition probe will be done by year end: trade agency |
Singer Shakira pregnant with first child |
No trouble with Curve at box office for new Eastwood movie |
Egypt's mufti urges Muslims to endure insults peacefully |
Syrian air strike kills at least 54: activists |
Suicide bombers kill at least six in Somali capital |
State Department warns Americans against travel to Pakistan |
Libya offers further apology for U.S. envoy's death |
Iraq denies airspace used by Iran to ship arms to Syria |
Kenyan court jails confessed al Shabaab member for 59 years |
Egypt street art vents anger at president after whitewashing |
Microsoft, HP skirted taxes via offshore units: Senate panel |
Exclusive: Wal-Mart stops selling Amazon Kindles |
Exclusive: Facebook to charge merchants to run offers |
EU's Almunia sees no solution yet to Google antitrust case |
Microsoft says has fixed Internet Explorer flaw |
Samsung to add iPhone 5 to U.S. lawsuits vs Apple |
Casino mogul Adelson opens new resort in Macau |
Fiscal cliff fears hit Scholastic's schools revenue |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01