Tech Giants Accused of Billions in Unpaid US Taxes

A new report by the UK-based Fair Tax Foundation (FTF) has accused tech giants like Amazon, Meta, Apple, and Netflix of avoiding billions in U.S. corporate income taxes over the past decade. The analysis claims these companies paid an average tax rate of 18.8%, significantly lower than the 29.7% average for comparable companies. If one-off repatriation payments are excluded, the effective tax rate drops to just 16.1%. This substantial avoidance comes despite a staggering $11 trillion in revenue and $2.5 trillion in profits from 2014 to 2023 by these firms, according to the FTF.