ShortPedia
Shortpedia Mobile App Download Shortpedia News App

Image Credit: Shortpedia

Due to tax reform, Amazon paid $0 income taxes for 2018

Thanks to the tax reform for 2017, e-commerce giant Amazon, which made $11 billion in last year, won't be paying any taxes, for the second time in a row. Instead of paying the standard 21% corporate income tax, Amazon is claiming a rebate of $129 million which works out to be -1%. The tax legislation has decreased corporate tax rates from 35% to 21%. However, both Amazon and Netflix used it to avoid paying taxes.

RT