Microsoft said the IRS notices relate to an ongoing dispute between the company and the U.S. tax authority, which is auditing how Microsoft allocated its profit among different countries and jurisdictions. The Redmond, Washington-based company said it has since changed its practices so that "issues raised by the IRS are relevant to the past but not to our current practices," according to a Microsoft blog.
The three companies cited low trading volumes, high costs and regulatory issues for their decision to voluntarily delist from the NYSE. Chinese regulator says it is normal for companies to list or delist from any market.
Get latest articles and stories on Business at LatestLY. An 9-year old author, Kimaya, daughter of Architect and Artist Sheetal Sonawane is set to launch her second edition of the book My own little world Part 2. Business News | My Own Little World Second Edition by Kimaya to Be Launched.