Giovedì, 18 Ottobre 2018

Facebook,Amazon among global giants paying low Italian taxes

English
© ANSA

(ANSA) – Milan, July 22 - Profitable multinationals Facebook
and Amazon together paid only about one million euro in combined
Italian taxes last year, sources told ANSA.
The information comes after the Group of 20 raised the
issue of major global corporations arranging their affairs to
avoid paying taxes in jurisdictions where they earn millions in
revenues.
Documents consulted by ANSA show that Internet retailer
Amazon paid 950,000 euros in Italian taxes last year while has
Facebook paid just under 132,000 euro.
Google has been cited as one of the largest companies to
avoid paying taxes through a series of intricate holding
companies.
Last year Google paid only 1.8 million euro in taxes in
Italy.
Politicians are concerned that small and medium sized
businesses wind up paying a far greater percentage of their
revenues in taxes compared with the global giants that are in a
position to shop for low-tax jurisdictions in which to declare
profits.
It has also triggered anger as Italian and other European
countries struggle with recession and economic hardship and
austerity measures hitting ordinary taxpayers.
In a report to the G20 meeting in Moscow late last week,
the Organization for Economic Cooperation and Development (OECD)
called for international cooperation on a new tax plan.
"National tax laws have not kept pace with the
globalization of corporations and the digital economy, leaving
gaps that can be exploited by multinational corporations to
artificially reduce their taxes," the OECD said.

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