Error
  • JUser::_load: Unable to load user with id: 67

Featured Articles

5th Generation Broadwell 14nm family comes in three lines

5th Generation Broadwell 14nm family comes in three lines

Intel's 5th Core processor family, codenamed Broadwell, will launch in three lines for the mobile segment. We are talking about upcoming…

More...
Broadwell Chromebooks coming in late Q1 2015

Broadwell Chromebooks coming in late Q1 2015

Google's Chromebook OS should be updating automatically every six weeks, but Intel doesn't come close with its hardware refresh schedule.

More...
New round of Nexus phone rumour kicks off

New round of Nexus phone rumour kicks off

Rumours involving upcoming Nexus devices are nothing uncommon, but this year there is a fair bit of confusion, especially on the…

More...
Nvidia officially launches the 8-inch Shield Tablet

Nvidia officially launches the 8-inch Shield Tablet

As expected and reported earlier, Nvidia has now officially announced its newest Shield device, the new 8-inch Shield Tablet. While the…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 07 June 2007 11:04

IBM falls foul of IRS

Written by

Image


No to tax shelter

 

The US IRS has moved to block an attempt by IBM to shelter itself from paying taxes on profits.

IBM has admitted using a tax shelter to avoid paying $1.6 billion in income taxes.

Big Blue was using a foreign subsidiary to buy back shares through foreign exchanges. The subsidiary then used the shares to pay its corporate parent in America for goods and services.

The IRS declared that the technique could not be used to eliminate taxes. The notice said it would disallow any transactions beginning on that day.

More here

Last modified on Thursday, 07 June 2007 12:06

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments