Intel baulks at $2 billion tax bill

INTEL, CHIPMAKER, reckons it's been stung by the taxman and says it's going ask him to let it off some.

The firm is concerned that the Internal Revenue Service (IRS) could ask it for export-related sales tax of over $2 billion for the seven years to 2006. It wants to appeal.

Intel has been moaning about the bill since August 2003 when heard about the IRS making "adjustments."

It says it wants to avoid "material adverse impact", but remains loaded and its cash-flow wouldn't suffer that much, according to Reuters.

Intel reckons its tax bill will increase by over $2.2 billion if it loses the appeal. µ