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Barack Obama’s tax reforms and Microsoft

President Barack Obama’s proposal to overhaul U.S. tax policy on international profits, unveiled last week, has raised objections from big companies that would end up paying considerably more in taxes under the plan. One is Microsoft, whose financial statements provide a case study in the benefits and drawbacks of the current system. Microsoft in its 2008 fiscal year reduced its effective tax rate by 7 percent, or more than $1.6 billion, as a result of foreign earnings taxed at lower rates, according to its latest annual report.

More infoTodd Bishop’s

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