Sunday, February 17, 2019

Amazon pays zero federal taxes for second year in succession despite doubling profits, says new reportAmazon 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

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