US EditionSilicon Six accused of avoiding $278bn in taxes, new report says
- Analysts accuse six major U.S. Tech firms, known as the Silicon Six, of evading nearly $278 billion in corporate taxes over the past decade, as reported by The Guardian.
- The Silicon Six generated $11 trillion in revenue and $2.5 trillion in profits, but only paid an average of 18.8% in taxes according to the Fair Tax Foundation.
- The Fair Tax Foundation's Chief Executive, Paul Monaghan, stated that tax avoidance seems to be built into these corporations’ structures and noted their significant political influence.
- Amazon claimed that the suggestions are extremely misleading, while a spokesperson emphasized that companies follow the tax rules established by governments.
13 Articles
13 Articles
According to a report, Amazon, Meta, Alphabet, Netflix, Apple, and Microsoft have built tax avoidance into their business models.
Amazon, Meta, Alphabet (Google), Netflix, Apple and Microsoft paid an average effective rate of only 18.8% in US corporate tax, according to an analysis by the Fair Tax Foundation.
These 6 corporations with 'enormous political influence' ducked $278 billion in taxes
Analysts accuse big U.S. tech firms of paying almost $278 billion less corporate income tax in the past decade compared with the statutory rate for U.S. companies making the same profits.The Guardian reveals Amazon, Meta, Alphabet, Netflix, Apple and Microsoft —the “Silicon Six”— generated a combined $11 trillion in revenue and $2.5 trillion in profits over the last decade. But they paid an average of just 18.8% in combined national and federal …
Silicon Six accused of $278bn tax evasion over 10 years
Amazon, Meta, Alphabet, Netflix, Apple, and Microsoft have been accused of tax fraud. A new report by the UK-based not-for-profit Fair Tax Foundation (FTF) has accused the Silicon Six major tech companies of avoiding nearly $278 billion in U.S. corporate income taxes over the past 10 years. The analysis, released today, alleges that these firms paid an average corporate tax rate of 18.8%, significantly below the U.S. average of 29.7% for compani…
[Digital Daily Reporter Jo Yoon-jung] As it was revealed that Google's Korean corporations paid approximately 24 billion won in corporate taxes last year, the controversy over tax evasion by big tech companies is expected to flare up again. Criticism is being raised that most of their domestic sales are processed as overseas corporation sales, thus paying relatively low corporate taxes. According to an audit report released on the Financial Supe…
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