February 7, 2020

The Daily Mail: Amazon paid only $162M in US federal taxes in 2019 after making $13BILLION in profit – an effective rate of just one per cent

media mention

Taxes collected on behalf of the government for payroll and from online sales from third-party vendors don’t count as taxes paid.

The expert wrote in a post made for the¬†Institute on Taxation and Economic Policy that ‘economists agree that payroll taxes are ultimately paid by employees in the form of reduced compensation.’

‘Like the sales tax, the payroll tax is one the company really just collects and sends to the government, as required by law’, Matthew Gardner, a senior fellow for the institute wrote. Read more