Posts Tagged ‘tax loopholes’
Why at least 8 trillionnaires companies pay ZeroTaxes? Not counting many financial multinational companies
By Danny Auron – Avaaz
Amazon made almost $200 billion in revenue last year — yet in many places their tax rate was almost 0. ZERO!
Internet giants are using tax loopholes to pocket billions that should be going towards our schools, hospitals, and other public services. We pay our taxes — why shouldn’t they? It isn’t just one company, or one rich CEO. 8 men (Uber, Google, Facebook…) now have as much wealth as half the world. Poverty has declined and many countries have experienced a great deal of economic growth, but wealth is concentrating more and more in the hands of an impossibly wealthy few. This plan wouldn’t change that in a moment, but it’s a step in the right direction. The idea is just to make “digital services” companies (like Amazon, Apple, Google, etc) start paying a very low tax in the country where they make the money, instead of letting them shuffle all their earnings to tax shelters. It isn’t about demonising successful companies. It’s about building a global economy that works for all of us, not just CEOs.
About stopping them from pocketing billions and billions of dollars that should rightly be paid in taxes and used for education, health care, and the infrastructure they use to deliver their products to us. And unlike Robin Hood, this isn’t stealing — it’s just changing the law to make things a tiny bit more fair.
If Europe’s Robin Hood bill passes, others will follow. That’s why these internet giants are doing everything they can to stop it. But if we can deliver our message to key capitals before a major summit in just days, insiders say we could tip the balance. This would be an unprecedented shift in how the world works, a clear sign that the status quo is changing and we won’t just let the rich get impossibly richer forever. But all it does is take the laws that apply to you and me — pay your taxes! — and makes it work for them too. That’s how the world should work — so like always, that’s what we should fight for.
Add your name: Click here to make tech giants pay like all of us
More information:
EU’s Divisive Plan to Tax Facebook, Amazon Returns to Spotlight (Bloomberg) How Uber, Google, Facebook and Other Tech Giants Avoid Paying Billions in Tax? (Medium) Silicon Valley faces sweeping new taxes in Europe (CNN) The tech giants will never pay their fair share of taxes – unless we make them (Guardian) |
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