Status: 07/16/2021 8:35 a.m.
The global minimum tax is also a response of states to the tax strategies of international corporations. However, according to the US government, Amazon may not be affected by the new regulation.
US online retailer Amazon may not have to pay planned global minimum tax. This is what statements by the US government suggest. “It depends on whether the company reaches profitability or not, and I’m not sure about that,” said US Treasury Secretary Janet Yellen in an interview with CNBC when asked whether the agreement was for more than 130 states would redistribute the taxation rights for Amazon.
The finance ministers of the 20 largest trading and industrialized countries (G20) recently agreed that companies with an annual turnover of at least 750 million euros will in future have to pay a minimum tax rate of 15 percent on their profits. Previously, 130 countries had already spoken out in favor of the plans under the umbrella of the OECD.
At the same time, a more equitable distribution of taxation is planned so that in future companies will not only pay taxes in their home country, but also where they do good business.
Prerequisite is ten percent return on sales
This regulation affects corporations or their business areas that achieve a minimum turnover of 20 billion euros and a profit of ten percent of the proceeds.
At least at the Amazon as a whole, the requirements were not met last year. Amazon generated sales of $ 386 billion. The profit was a good $ 21 billion, the return on sales was a good five percent.
However, the group came a little closer to the threshold of ten percent in the first quarter of the current year. With a turnover of 108 billion dollars, the profit was 8.1 billion dollars, which corresponds to a return of 7.5 percent.