The online marketplace Etsy paid just £128,000 in corporation tax in the UK in 2020 despite racking up sales of $195.8m
Most of the world’s nations have signed up to a historic deal to ensure big companies pay a fairer share of tax.
Amazon said the report’s “suggestions are wrong” and the company had “a 24% effective tax rate on profits from 2010-18”.
Biden has proposed hiking the U.S. corporate tax rate to 28% from 21% to help pay for his plan, an idea that Republican leaders are panning.
U.S. Treasury Secretary is working with G20 countries to agree on a global corporate minimum tax rate. know more.