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 (NASDAQ: MSFT) and Cisco Systems, Inc (NASDAQ: CSCO), Reuters 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 (NASDAQ: AMZN) investor meeting in May but failed to get sufficient support to pass.

• The tech giants, including Meta Platforms Inc (NASDAQ: META), Apple Inc (NASDAQ: AAPL), Amazon, and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: 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

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