February 21, 2019
“The Institute on Taxation and Economic Policy report in Washington DC has noted that Amazon enjoyed a negative tax rate in the US in 2018. That is not a misprint.
“On $10.8bn of US profits in 2018, Amazon got a tax rebate of $130m, equivalent to an effective tax rate of -1.2%.”
Mr McDonnell concluded: “If small businesses and ‘normal’ politics are to survive, the next Competition Commissioner will have to not merely control, but break up the US tech giants.
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