Amazon wants to stay out of the new "minimum tax" agreed by the G7

Amazon wants to stay out of the new "minimum tax" agreed by the G7

This measure aims at the taxation of large technology companies that do not pay taxes in countries where they hardly have a corporate presence, but where they do have a market. Read on for more details!

This measure aims at the taxation of large technology companies that do not pay taxes in countries where they hardly have a corporate presence, but where they do have a market. Read on for more details!

In what could be a new controversy for the retail e-commerce giant, Amazon could 'escape' the new minimum type of Companies that the G7 has agreed to.

The G7 reached a historic agreement for a global minimum corporate tax that could leave the controversial Google rate in the air that countries like Spain have already approved and are taxing. This is the first step towards new taxation on large technology companies that do not pay taxes in countries where they hardly have a corporate presence but do have a market.

For their part, Facebook, Amazon and Google have already spoken publicly, praising the agreement. "We believe that an OECD-led process that creates a multilateral solution will help stabilize the international tax system. The G7 agreement represents a step forward in the effort to achieve that goal," a spokesman for the e-commerce giant told Reuters.

Facebook, Amazon and Google have already spoken publicly, praising the agreement.

It is not the first time that a company spokesperson defends a coordinated and international process against the rates that have been approved by various European countries in recent months. 

But several experts have highlighted in The Guardian that Amazon could continue to avoid this new type. The new type sinks its approaches into two points. The first: will be applied to multinationals with a profit margin greater than 10%. A 20% tax on this margin would be redistributed and levied in the countries where these companies operate.

A 20% tax on this margin would be redistributed and levied in the countries where these companies operate.

The second point is the global minimum corporate rate of 15%, which will discourage large companies from declaring their profits in tax havens.

 Amazon is one of the largest businesses in the world with a stock market valuation of about $1.6 trillion, and revenues of more than $386 billion in 2020. Its subsidiary in Luxembourg paid nothing in corporate taxes on its sales, valued in Europe at 44,000 million euros.

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