June 5, 2009
Ballmer will move Microsoft staff if US taxes rise
The ceo of the world’s biggest software development company Microsoft, has indicated that he would be considering moving some of the firms employees outside of the US should plans go ahead to impose a higher tax on companies foreign profits.
Steve Ballmer has said that if the plan to restrict the tax breaks for offshore companies get through congress, Microsoft and its employees would be better off moving to a location outside of the US.
Currently the US tax rules allow companies to defer tax at a rate of thirty five per cent on most foreign profits, but the proposed changes would mean that this scheme would come to an end. The idea being that companies would be encouraged to invest in the US.
Source [Bloomberg]
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