Global technology giants Apple, Google and Microsoft on Wednesday defended their corporate tax structures at an Australian parliamentary hearing, rebuffing claims they were shifting their profits offshore to avoid paying taxes in the nation. The three firms also told the upper house Senate inquiry into corporate tax avoidance, which held its first day of hearings in Sydney, that they were among 12 technology companies being audited by the Australian Taxation Office. There have been increased efforts by governments around the world, including Australia, to crack down on multinational firms that use complex corporate structures to lower their tax bills. The European Union last month unveiled an ambitious plan to force its 28 member countries to share details of any tax deals agreed with some of the world's biggest companies.
via Tech News Headlines - Yahoo News http://ift.tt/1HPwBwL
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