OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Warren, Whitehouse, Sanders Probe Accounting Giant KPMG's Role Helping Microsoft Offshore Profits and Avoid Billions in Taxes

Letter

Date: Nov. 30, 2023
Location: Washington, D.C.
Issues: Business and Consumers Finance and Banking

"Reports reveal that KPMG designed this "pure tax play' for Microsoft, and implemented similar schemes for other large U.S. corporations. The IRS appears to be alleging that this KPMG-directed tax restructuring violated transfer pricing laws, which regulate the payments large corporations send to their related businesses."

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"KPMG's role in Microsoft's tax evasion is deeply disturbing, indicating that KPMG helped Microsoft reward shareholders and executives, while depriving the federal government of billions in tax revenue needed to pay for health care, environmental protection, infrastructure, and more. But it does not end there… the KPMG team boasted that they had "significant experience in assisting Fortune 50 companies in the migration of … company assets to new deferral structures'…. If true, KPMG clearly played a central role in the systematic offshoring of corporate profits, which has eroded the U.S. tax base and contributed to a sharp rise in economic inequality."

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