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Microsoft Irish subsidiary paid zero tax on £220bn profit

Microsoft Irish subsidiary paid zero corporate tax on 220 billion profit made last year.

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Microsoft Irish subsidiary paid zero corporate tax on 220 billion profit made last year.

The company made a huge profit despite having zero employees during the worst time of the pandemic. Moreover, the total profit made by the company is three times more than the total of Ireland’s corporate sector as a whole. 

The subsidiary, which collects license fees for use of copyrighted Microsoft software around the world, recorded an annual profit of $314.7bn in the year to the end of June 2020. Its profits jumped from just under $10bn the previous year and compare with Ireland’s 2020 GDP of €357bn ($437bn).

The company paid a $24.5bn dividend to Microsoft Corporation during the financial year, followed by a further special dividend of $30.5bn.

Microsoft was previously investigated under the charges of tax evasion by the US. However, it came as a clean chit. The company is holding a profit equal to the country’s whole GDP without paying a cent in the tax.

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