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‘Silicon Six’ Dodged $100 Billion In Taxes Over Past Decade by Kenny Stancil

Researchers said Amazon, Facebook, Alphabet (the owner of Google), Netflix, Apple and Microsoft – known as the “Silicon Six” – are adept at reducing their tax liabilities by shifting profits to offshore tax havens. Bolstering demands for a global minimum tax to rein in corporations’ evasive tactics, a new analysis released last week showed that a half dozen companies based in the U.S. paid almost $100 billion less in taxes over the past decade than stated in their annual reports. Between 2011 and 2020, Amazon, Facebook, Alphabet (the owner of Google), Netflix, Apple, and Microsoft – known as the “Silicon Six” – paid roughly $219 billion in income taxes, which amounts to just 3.6% of their more than $6 trillion in total revenue, according to the Fair Tax Foundation. Income tax is paid on profits, not total revenue, and researchers said these tech giants are adept at reducing their tax liabilities by shifting profits to offshore tax havens. Had the “Silicon Six” paid the prevailing tax rates in the countries in which they operate, they would have given global tax authorities over $149 billion more than they did over the past decade, researchers said. Moreover, not only did these corporate behemoths fork over nearly $150 billion less than would be expected under a stronger international taxation regime, but they also inflated the value of the tax payments they did make.
https://childrenshealthdefense.org/defender/big-tech-dodged-100-billion-taxes-past-decade

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