- 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
