Connect with us

Hi, what are you looking for?

Top News

The world’s richest man is also in favor of increasing corporate taxes in the United States

The world’s richest man is also in favor of increasing corporate taxes in the United States

Jeff Bezos says they can contribute to infrastructure development.

He supports the proposal to increase the US corporate tax Jeff Bezos, Founder and CEO, Amazon According to Forbes, he is the richest man in the world MTI writes. The world’s largest online retailer has long been criticized for using every loophole to pay the least amount of taxes. In 2018 and 2019, for example, Amazon paid no dollar tax to the US federal budget.

Joe Biden Last week, the US president unveiled his $ 2,000 billion infrastructure development program, the implementation of which will be partly funded through corporate tax increases.

The president has proposed, among other things, an increase in corporate tax from 21 percent to 28 percent, closing loopholes that allow for tax evasion, and setting a minimum tax on foreign US corporate profits, making it difficult to escape corporate profits to tax havens.

Commenting on the ideas, Jeff Bezos said in a paper published on the company’s blog on Tuesday that they support the Biden government’s campaign to make large-scale infrastructure investments in the United States.

We realize that this investment requires discounts from all parties, both in terms of what suits the program and who bears the costs (we support raising the corporate tax rate),

Found on the Bezos post.

Janet Yellen Earlier this week, the US Treasury secretary called for a global minimum corporate tax rate for companies with international operations. The issue will be on the agenda on Wednesday at a video conference of G20 finance ministers, which brings together the world’s 19 largest economies and the European Union.

See also  Great Britain and Ireland submit joint bids -

American tech giants, including Amazon, Facebook, Apple and Google, have been under fire for years. All over the world they claim to pay very little tax as they actually do business, and they can reallocate their huge profits almost anywhere in the world via accounting.

Although international negotiations have continued on imposing unified taxes on major global technology companies for many years, no agreement has yet been reached, so several European countries have unilaterally imposed taxes on digital services on the affected companies, which are predominantly American.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...


Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...

Top News

Given the differences in styles with next-generation consoles, the so-called “console war” between Sony and Microsoft is arguably moot. Most console players, however, will...

Copyright © 2024 Campus Lately.