Tax plan strikes at tech giants' foreign profits

While most U.S. businesses would pay lower taxes under congressional Republicans’ proposed tax overhaul, some of the world’s richest technology companies might actually see their rates rise.

A window into how Microsoft Corp. currently pays a disproportionately larger portion of its taxes overseas shows how the legislation could offset the benefits of returning cash home.

The software giant saves billions of dollars in taxes by holding software licensing rights at facilities in Puerto Rico, Ireland and Singapore, where it stockpiles profits and pays low foreign rates. Puerto Rico, while a U.S. territory, is treated as a foreign country under current tax law.

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