Amazon is known for reaching the pinnacle of the art of tax evasion. Now, for example, Americans have not paid the CIT tax in Europe.
All the big tech companies are controversial, but Facebook and Amazon are fighting for the lead in this unique competition. However, the former is being criticized for personal data issues, and Amazon is being blamed for employment rights and tax evasion on a scale unheard of even among many companies in the same sector. Amazon in Europe eventually settles all financial operations in the name of Amazon SARL in Luxembourg.
It is true that last year Amazon showed 44 billion euros Revenues. This is 37% more than the previous year. Despite this, the Luxembourg subsidiary of Amazon was able to prove this Loss € 1.2 billion loss. Not only that – until the company received Tax exemption In the amount of 56 million euros. Amazon has not paid any CIT tax. The company makes clear that other taxes are paid, and CIT is paid on earnings and not on revenue. Amazon confirms that it is creating new jobs in Europe. But Margaret Hodge of the British Labor Party thinks the company’s losses are a problem Tax evasionBeing in tax havens and accounting tricks.
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Text source: Guardian