Microsoft to Be Fined $140M by China for Alleged Tax Evasion

Microsoft has been slapped with a $140 million fine by China for alleged, cross border tax evasion.
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Microsoft has been slapped with a $140 million fine by China for alleged, cross border tax evasion. China's official news agency is reporting that the fine includes back taxes, interest and additional yearly taxes. The move comes as Chinese regulators up the pressure on U.S. companies doing business there. Microsoft is already under investigation in China by anti trust regulators. The tech giant has not confirmed or denied the allegations which were reported by China's official news agency. Microsoft said it had agreed to pay $140 million as a 'bilateral advanced pricing agreement' as opposed to back taxes and that company profits are subject to the appropriate tax in China.