Amazon paid 1.2% tax on $13 billion profit

Henkjan de Krijger

@henq · 07 Feb 2020

Amazon paid 1.2% tax on $13 billion profit

So Amazon's trucks drove millions of miles a year on American roads and roads worldwide.
But they don't pay for those roads. And it's not the case that your purchase price is lower. Or that employees in the warehouses earn a large salary. On the contrary, they often work below the minimum wage and wear diapers because they do not make it to the toilet in their 10 minute break. Winner takes all.

Often these constructions are legal. But is this morally acceptable?Last year, Yahoo Finance reported that Amazon (AMZN) paid a shockingly low amount in federal income taxes in 2018 on more than $11 billion in profits: $0.

But this year, while the company says it has paid “billions” in taxes for the year 2019, in reality it only paid $162 million in federal income tax — an effective tax rate of 1.2% on over $13 billion in profits.

“We follow all applicable federal and state tax laws, and our U.S. taxes are a reflection of our continued investments, compensation of our employees, and the current tax rules,” Amazon wrote in a blog post on Jan. 31.

#Amazon
#Taxes
#Belastingontwijking