SM-Bot
8 Dec 2003, 7:46pm
It has been reported that Microsoft Korea has paid back taxes and penalties for tax evasion to the sum of about $27 million. Microsoft has admitted tax evasion in Korea between 1997 and 2001.
The Korean subsidiary was charged with inflating expenses by overstating the cost of software imported from its U.S. parent company, thus underreporting its income. Microsoft Korea is disputing the remaining balance of the initial US$59 million tax assessment, saying that the allegation arose from a difference of opinion between the company and the tax authorities over the way imported software products are priced.
Source - Zdnet
Submitted by Csimon
The Korean subsidiary was charged with inflating expenses by overstating the cost of software imported from its U.S. parent company, thus underreporting its income. Microsoft Korea is disputing the remaining balance of the initial US$59 million tax assessment, saying that the allegation arose from a difference of opinion between the company and the tax authorities over the way imported software products are priced.
Source - Zdnet
Submitted by Csimon