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Amazon lack of Tax

Discussion in 'The Dive' started by Kindler, May 5, 2021.

  1. Kindler

    Kindler Active Member

    Ok, can someone explain to me how that online juggernaut called Amazon managed to make a massive loss in the last despite making their biggest profits ever?

    Yes, I know I contribute in some small way to their bottom line, but they had sales of €43.8 billion last year across Europe and yet managed to record a loss of €1.2 billion and so paid no corporation tax.

    I know I get a lot of fiction from Amazon, but their accounting must be truly magical.

    Some more detail here from the Irish Times if you're interested.
     
  2. tirial

    tirial IT fixer extraordinaire

    Hollywood Accounting. Each seperate part makes money, then the layer above bleeds it off in expenses. Rinse. Repeat.

    Also financing debt. They owe $31.816B in long term loans. Under the principals above, many of these loans will have been to other parts of the company, but it all counts as debt.
     
  3. CatInASuit

    CatInASuit Administrator Staff Member

    That's the huge amount of debt at very low rates that gets written off everywhere and that only a huge company can afford to live with.

    Quite depressing really.
     

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