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"The rules on making multinationals pay taxes where they operate - known as "pillar one" of the agreement - would apply to global companies with at least a 10%
by antattack 5y ago
"The rules on making multinationals pay taxes where they operate - known as "pillar one" of the agreement - would apply to global companies with at least a 10% profit margin. "
Tying tax rate to profit margin sounds like a loophole. For example - Hollywood Accounting[1]
[1]https://en.wikipedia.org/wiki/Hollywood_accounting https://en.wikipedia.org/wiki/Hollywood_accounting
- unreal37 5y agoAmazon ran at almost 0 profit for years, but then they ran out of ways to make the money disappear. Still, this would catch them.
- bpodgursky 5y agoIn 2020 Amazon had revenue of $386 billion and profit of $21.33 billion, so no it would not. That's far under 10% (as expected for a retail seller).