Microsoft Round Island One is ‘tax resident’ in Bermuda, with no employees except directors
An Irish subsidiary of Microsoft made a profit of $315bn (£222bn) last year but paid no corporation tax, as it is “resident” for tax purposes in Bermuda.
The profit generated by the company, Microsoft Round Island One, is equal to nearly three-quarters of Ireland’s entire gross domestic product (GDP) – even though it has zero employees.
Continue reading...