Microsoft pays no taxes on $93 bn held in overseas accounts

Microsoft said the cash kept overseas would be spent in areas where it was generated

Tech giant Microsoft saves almost $30 billion by avoiding taxes and holds income accounts of $92.9 billion outside the United States.

According to Mashable, the US government said that Microsoft is not performing its economic responsibilities as an American company while the tech firm claimed that it was only doing business.

Microsoft said that the cash kept overseas was generated outside the US and that it would be spent there.

According to reports, United States companies hold almost $2 trillion in foreign accounts.