Reuters: Technology News: Denmark wants $1 billion in back-taxes from Microsoft: local radio

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Denmark wants $1 billion in back-taxes from Microsoft: local radio Mar 4th 2013, 14:24 Tweet Share this Email Print Related News HIGHLIGHTS-Singapore budget for fiscal 2013/14 Mon, Feb 25 2013 Tax moves to forefront of Italy election campaign Tue, Feb 19 2013 India cracks down on taxation of transfers within foreign firms Sun, Feb 17 2013 Analysis & Opinion To create growth, unleash the invisible foot Essential reading: Washington State tax law ruled void, and more The interior of a Microsoft retail store is seen in San Diego January 18, 2012. Credit: Reuters/Mike Blake COPENHAGEN | Mon Mar 4, 2013 9:14am EST COPENHAGEN (Reuters) - Denmark wants Microsoft to pay $1 billion in back taxes in one of the biggest tax cases in the country's history, local media reported on Monday. The Danish tax authority is in negotiations with Microsoft over unpaid taxes stemming from the $1.88 billion takeover of Danish software company Navision in 2002, Danish Radio DR said, quoting unnamed sources. The tax authority claims Microsoft sold the rights to Navision's successful business planning software, now under the name of Dynamics NAV, at below market value to a subsidiary in Ireland, DR said. As a result the tax authority is claiming 5.8 billion crowns in back taxes and interest from sales of Dynamics NAV, the public service radio broadcaster said. A Microsoft representative in Denmark declined to comment on the report as did the Danish tax authority. The Danish government proposed in February to gradually lower the corporate tax rate to 22 percent from 25 percent, while corporate tax in Ireland can be as low as 12.5 percent, depending on the type of business. A recent U.S. government report said U.S. multinational companies reported 43 percent of their overseas profits in tax havens like Bermuda, Ireland, Luxembourg, the Netherlands and Switzerland in 2008. (Reporting by Johan Ahlander; Editing by Greg Mahlich) 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 (0) Be the first to comment on reuters.com. Add yours using the box above.

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