How can Amazon pay no tax while enjoying record pandemic revenues? Europe Letter: Web of subsidiaries makes question hard to answer, which is the point Wed, May 5, 2021, 21:00
How is it possible for a company to report record revenues of €43.8 billion, but a loss of €1.2 billion that means it does not have to pay any tax? This is the question that regulators, politicians and tax investigators are asking after Amazon’s main European unit filed the striking results for its 2020 year, which was overall a record-breaking success for the company globally as the pandemic fuelled a shift to online shopping. A complex web of international subsidiaries makes it difficult to answer.