{"id":29496,"date":"2020-02-01T01:59:17","date_gmt":"2020-02-01T06:59:17","guid":{"rendered":"https:\/\/africatodaynewsonline.com\/?p=29496"},"modified":"2020-02-01T01:59:17","modified_gmt":"2020-02-01T06:59:17","slug":"amazon-highlights-taxes-paid-in-pushback-against-critics","status":"publish","type":"post","link":"https:\/\/africatodaynewsnewyork.com\/2020\/02\/01\/amazon-highlights-taxes-paid-in-pushback-against-critics\/","title":{"rendered":"Amazon Highlights Taxes Paid In Pushback Against Critics"},"content":{"rendered":"
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<\/div>\n

Amazon said Friday it paid more than $1 billion in US federal income taxes<\/a> in 2019 as it pushed back at criticism over its corporate responsibility.<\/strong><\/p>\n

A blog post by Amazon sought to highlight its investments and contributions to the US economy, in a move to fend off critics claiming it benefits from taxpayer subsidies.<\/p>\n<\/div>\n

“Since 2010, we’ve made more than $270 billion in investments in corporate offices, customer fulfillment and cloud infrastructure, wind and solar farms, eco-friendly equipment and machinery and compensation to our teams,” Amazon said.<\/p>\n

“These investments are accelerating, and we estimate that they have contributed an additional $168 billion to the US GDP since 2010.”<\/p>\n

The tech giant, whose market valuation moved back above $1 trillion following its earnings report Thursday, said it paid more than $1 billion in US federal income taxes in 2019, along with $2.4 billion in other federal taxes, including payroll taxes and customs duties.<\/p>\n

It said it “collected and remitted nearly $9 billion in sales and use taxes to states and localities throughout the US” last year and paid over $1.6 billion in state and local taxes.<\/p>\n

Amazon faced criticism over its prior annual reports which appeared to show it paid no federal income taxes in 2017 and 2018, and received some rebates after a tax reform measure passed by Congress — joining several other large corporations whose tax bill was cut by the law.<\/p>\n

Amazon’s statement Friday said it adheres to “all applicable federal and state tax laws,” while noting that it takes advantage of laws that encourage economic investment and job creation.<\/p>\n

Read Also: Apple Takes Smartphone Sales Crown From Samsung<\/a><\/strong><\/p><\/blockquote>\n

“Over the last decade, no other US-based company has created more jobs than Amazon,” the statement said.<\/p>\n

“Our investments have led to the creation of over two million jobs in the US.”<\/p>\n

It said its labor force — now 798,000 worldwide — includes some 500,000 in the United States, where it pays a wage of at least $15 an hour, above the required minimums in most states.<\/p>\n

Amazon’s statement comes amid an effort by officials from 137 countries to reform the global tax system for a more equitable distribution of revenues paid by multinationals and the largely US-based digital giants.<\/p>\n

In December, Amazon published its French tax returns, showing it paid 250 million euros last year, after accusations of underpayment.<\/p>\n

Amazon’s quarterly update showed a profit in the final three months of last year of $3.3 billion on revenue of $87.4 billion. For the full year it had net income of $11.6 billion on $280 billion in revenue.<\/p>\n

 <\/p>\n

AFP<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Amazon said Friday it paid more than $1 billion in US federal income taxes in 2019 as it pushed back at criticism over its corporate responsibility. A blog post by Amazon sought to highlight its investments and contributions to the US economy, in a move to fend off critics claiming it benefits from taxpayer subsidies. 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