Amazon will pay $ 0 in federal taxes this year



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Amazon is one of the most profitable companies in the world, valued at nearly $ 800 million. The e-commerce giant achieved a worldwide turnover of $ 232.9 billion in 2018.

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"Amazon pays all the taxes we are required to pay in the United States and in all the countries in which we operate, including a $ 2.6 billion corporate tax and a $ 3.4 billion tax expenditure. dollars over the past three years, "said a spokeswoman for Amazon in a statement. at CNBC Make It.

Amazon announced its significant repayment by the federal government in a recent filing by the company regarding its fourth quarter results. However, Amazon also indicates in this document that it will pay $ 756 million in total taxes this year, between national and international taxes.

A report released this week by the Institute on Taxation and Economic Policy, or ITEP, a non-partisan, nonprofit think tank on tax policies, pointed out that Amazon will not pay federal taxes for the second year in a row. In fact, last year, Amazon received an even larger refund, with $ 137 million from the federal government.

One of the reasons for Amazon's nonexistent federal tax bill is the law on the reduction of the tax on employment and jobs promulgated by Congress in 2017, which lowered the corporate tax rate of 35% to 21%. In addition to reducing corporate tax rates, the new tax law "has failed to … eliminate a large number of tax loopholes allowing profitable businesses to avoid paying federal and federal income taxes on nearly half of their profits, "ITEP senior Matthew Gardner wrote in a report Wednesday.

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