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 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 AMZN investor meeting in May but failed to get sufficient support to pass.
The tech giants, including Meta Platforms Inc META, Apple 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.
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