Alphabet - Business Outrank

The "Silicon Six" companies which include Amazon, Meta, Alphabet, Netflix, Apple and Microsoft face allegations of tax evasion on $278 billion in US corporate taxes throughout the last ten years. The Fair Tax Foundation published a report showing that Silicon Six technology giants paid only 18.8% in corporate taxes even though they generated $11 trillion in revenue and $2.5 trillion in profit during the studied period. Their tax rate drops to 16.1% when they exclude the one-time repatriation taxes. The companies recorded $82 billion in inflated tax payments through tax contingencies which remained unpaid according to the report. The tax rate reported by Netflix was the lowest at 14.7% but Microsoft achieved the highest rate at 20.4%. Amazon received the most criticism for its 19.6% tax rate because the company shifted profits to tax havens such as Luxembourg. Meta and Apple recorded tax rates below the average at 15.4% and 18.4% respectively. The companies' representatives state they follow all tax regulations yet their critics believe these firms use political connections to evade maximum tax obligations. The study's results have sparked fresh demands for worldwide tax system changes and increased oversight of major technology companies.

What's Hot

Blinkit Delivers Airtel SIM Cards in Just 10 Minutes Across 16 Cities

China to snub UK energy summit amid row over infrastructure projects

Mark Zuckerberg Considered Instagram Breakup Amid Monopoly Fears, Trial Reveals

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: Alphabet

Amazon, Meta, Alphabet, Netflix, Apple, and Microsoft Accused of Dodging $278 Billion in Taxes

Blinkit Delivers Airtel SIM Cards in Just 10 Minutes Across 16 Cities

China to snub UK energy summit amid row over infrastructure projects

Mark Zuckerberg Considered Instagram Breakup Amid Monopoly Fears, Trial Reveals

Canara Bank, HDFC Bank to SBI Rally as Hopes Rise for RBI Rate Cut

Our Picks

Blinkit Delivers Airtel SIM Cards in Just 10 Minutes Across 16 Cities

China to snub UK energy summit amid row over infrastructure projects

Mark Zuckerberg Considered Instagram Breakup Amid Monopoly Fears, Trial Reveals

Most Popular

Blinkit Delivers Airtel SIM Cards in Just 10 Minutes Across 16 Cities

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: Alphabet