Investors Seek More Transparent Tax, Disclosure Norms From Microsoft and Cisco

  • Britain-based proxy advisers Pensions & Investment Research Consultants (PIRC) sought more transparent tax and financial information from Microsoft Corp MSFT and Cisco Systems, Inc CSCOReuters reports.
  • The resolution urged Microsoft to disclose financial and tax information country-by-country outside the U.S. to help investors assess its fairness and identify any risks posed by tax reforms.
  • It also sought a tax transparency report from Microsoft in line with the tax standard of the Global Reporting Initiative.
  • Investors including Nordea, AkademikerPension, and Greater Manchester Pension Fund had backed the resolution.
  • Investors voted on a tax transparency resolution at Amazon.com Inc's AMZN investor meeting in May but failed to get sufficient support to pass. 
  • The tech giants, including Meta Platforms Inc METAApple Inc AAPL, Amazon, and Alphabet Inc GOOG GOOGL, have come under global scanner over antitrust and disclosure norms.
  • Microsoft recently launched a new initiative to assist better European cloud companies hosting Microsoft products like Windows and Office 365 apps after facing flak.
  • Price Action: MSFT shares traded higher by 0.45% at $266.08 in the premarket on the last check Tuesday.
  • Photo via Wikimedia Commons

Posted In: BriefsGovernmentNewsRegulationsTechMedia

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