Loopholes allowed six of the biggest Silicon Valley companies to avoid paying about $100 billion in taxes since 2010, according to an analysis by the British group Fair Tax Mark. The group says the corporate tax paid by U.S. tech companies is much lower than commonly understood.
Facebook, Apple, Amazon, Netflix, Google and Microsoft collectively paid $100.2 billion less than they accounted for internally, according to the report, despite having a combined market capitalization of $4.5 trillion.
Here & Now's Tonya Mosley speaks to Paul Monaghan, CEO of Fair Tax Mark.
This segment aired on December 16, 2019.