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

Featured Articles

Intel releases tiny 3G cell modem

Intel releases tiny 3G cell modem

Intel has released a 3G cellular modem with an integrated power amplifier that fits into a 300 mm2 footprint, claiming it…

More...
Braswell 14nm Atom slips to Q2 15

Braswell 14nm Atom slips to Q2 15

It's not all rosy in the house of Intel. It seems that upcoming Atom out-of-order cores might be giving this semiconductor…

More...
TSMC 16nm wafers coming in Q1 2015

TSMC 16nm wafers coming in Q1 2015

TSMC will start producing 16nm wafers in the first quarter of 2015. Sometime in the second quarter production should ramp up…

More...
Skylake-S LGA is 35W to 95W TDP part

Skylake-S LGA is 35W to 95W TDP part

Skylake-S is the ‘tock’ of the Haswell architecture and despite being delayed from the original plan, this desktop part is scheduled…

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