Amazon has paid zero federal taxes for the second year in succession, despite a doubling of its profits, according to a new report. Although the tech giant founded by Jeff Bezos saw its profits grow from $5.6bn (£4.3bn) in 2017 to $11.2bn (£8.7bn) in 2018, it will actually receive a tax rebate of $129m (£100m). “The company’s newest corporate filing reveals that, far from paying the statutory 21 per cent income tax rate on its US income in 2018, Amazon reported a federal income tax rebate of $129m,” said the report by the Institute on Taxation and Economic Policy (ITEP), which describes itself as a “non-partisan, non-profit think tank”, based in Washington DC.
from Yahoo News - Latest News & Headlines https://yhoo.it/2Gv8Lj8
No comments:
Post a Comment