Adonis Diaries

Posts Tagged ‘tax loopholes

Why at least 8 trillionnaires companies pay ZeroTaxes? Not counting many financial multinational companies

By Danny Auron – Avaaz

Last year, Amazon’s tax rate in many places was almost ZERO, thanks to loopholes that let giant companies pocket billions that should be for our schools, hospitals, etc. But now some European leaders are backing a revolutionary plan — take just a bit of the trillions the internet giants earn to give it back to the people — like Robin Hood. Add your name to make sure this plan flies at a key summit in days — then we’ll take it global!

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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?

Europe is on the verge of passing a revolutionary law that would make them do just that  take just a bit of the trillions the internet giants earn to give it back to the people, like Robin Hood. But these monster companies are fighting back, because they know if it passes it’ll go global.

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.
More information:

EU’s Divisive Plan to Tax Facebook, Amazon Returns to Spotlight (Bloomberg)
https://www.bloomberg.com/news/articles/2018-11-05/eu-s-divisive-plan-to-tax-facebook-amazon-returns…

How Uber, Google, Facebook and Other Tech Giants Avoid Paying Billions in Tax? (Medium)
https://medium.com/dconstrct/how-uber-google-facebook-and-other-tech-giants-avoid-paying-billions-in-tax-365b7c8b7dbc

Silicon Valley faces sweeping new taxes in Europe (CNN)
https://money.cnn.com/2018/03/21/technology/eu-europe-tech-tax/index.html

The tech giants will never pay their fair share of taxes – unless we make them (Guardian)
https://www.theguardian.com/commentisfree/2017/dec/11/tech-giants-taxes-apple-paradise-corporation-avoidance

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adonis49

adonis49

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