Google revenue

As for Amazon Europe, it increased its income in 2021 by 7 billion but zero tax. In fact, the tax bonus has reached a billion people

In 2021, “Amazon Europe Unit”, a division based in Luxembourg in which the activities of Great Britain, Germany, France, Italy, Spain, Poland, Netherlands, Sweden, He paid no tax. Indeed, it obtained a tax credit of 1 billion euros. This in the face of a turnover increasing by 17% per year €51.3 billion. However, taxes are calculated on Profits that for Amazon Eu were not there. Indeed, the company recorded a loss of 1.2 billion euros. Curiously, the company’s sales increased by 22%, the costs did not increase and, at the level of the whole group, It closed 2021 with a profit of 24.9 billion, an increase of 2 billion compared to the previous year. But the fact that the company is not making money in Europe is nothing new. Headquarters in Luxembourg This entity directs the activities

The small country has a very favorable tax system, especially many Laxity with transfer of profits elsewheremost likely in secret jurisdictions like the usual Virgin Islands, Caymans, etc., Jersey, Delaware and others (Most of these are directly attributable to Britain). Here profits are taxed Ridiculous or non-existent prices. The “game” by which multinational corporations transfer their profits is, after all, very simple. Subsidiaries of the same group residing elsewhere sell licenses, software, patents, etc. to divisions of countries where the tax rate is higher. Every year, Alphabet (Google) subsidiaries around the world purchase licenses from, for example, Google Bermuda. Most large companies do the same, some more, some less.

An Amazon spokesperson said the company is taxed at all of its European subsidiaries, and revenues, profits and taxes are recorded and reported directly to local tax authorities. “Everywhere in Europe, we pay a tax on Company profits in hundreds of millions of eurossaid the Amazon spokesperson. ask by Ilfattoquotidiano.it The company notes that 345 million euros of unspecified amounts were paid in Italy “tax contributions”It is therefore not an ordinary tax on corporate dividends, but a much broader definition. On the other hand, Amazon did not answer a question about the profits made in Italy. A memo from the group notes that the $1 billion tax benefit is “primarily due to net losses carried forward under the tax consolidation system.” Luxembourg-based Amazon has less than 7,000 employees and is registered 37 billion euros of expenditure for “raw materials and consumables”. And 15 billion “foreign charges” resulted in an annual loss. “We are investing heavily in job creation and infrastructure across Europe – over €100 billion since 2010,” an Amazon representative said.