Investors demand Microsoft tax transparency

LONDON Reuters -- Investors with more than $350 billion of assets have demanded that Microsoft publish more transparent tax and financial information as tech giants face growing scrutiny over their tax affairs.

A shareholder resolution on tax transparency had been filed with Microsoft ahead of its annual investor meeting this year, said Britain-based proxy advisers Pensions Investment Research Consultants PIRC Investors including Nordea, AkademikerPension and Greater Manchester Pension Fund.

The resolution asks the company to publish financial and tax information on a country-by-country basis outside its home market of the United States so investors can assess if it is paying fair taxes and identify the risks posed by tax reforms.

It calls for Microsoft to produce a tax transparency report in line with the standards of the Global Reporting Initiative, a standards organisation.

A similar resolution was filed with the tech giant Cisco, according to the PIRC.

The investor voted on a tax transparency resolution at Amazon's investor meeting in May, but it didn't get enough support to pass.

Microsoft and Cisco were not immediately available for comment.