×
71 647
Fashion Jobs
MACY'S
Manager, Omni Operations
Permanent · Skokie
MACY'S
Director, External Communications – Product And Brand
Permanent · New York
MACY'S
Credit Finance Analyst ii
Permanent · Deerfield Township
MACY'S
Manager, Merchandise Execution
Permanent · Florence
MACY'S
Asset Protection Captain, Clackamas Town Center - Full Time
Permanent · Happy Valley
MACY'S
Multi-Store Detective, Tacoma - Full Time
Permanent · Tacoma
MICHAEL KORS
Part Time Sales Supervisor, Memorial City Mall
Permanent · Houston
MICHAEL KORS
Sales Supervisor, Sugar Land, tx
Permanent · Houston
MICHAEL KORS
Sales Supervisor The Woodlands Mall
Permanent · Houston
JCREW
Junior Account Executive
Permanent · New York
JCREW
Senior Counsel, Intellectual Property & Product Compliance
Permanent · New York
JCREW
Brand Marketing Director, mw Men's
Permanent · New York
JCREW
Product Manager
Permanent · New York
JCREW
Distribution Supervisor
Permanent · Lynchburg
MARSHALLS
Loss Prevention Detective
Permanent · Charlotte
MARSHALLS
Loss Prevention Detective
Permanent · Bloomfield
MARSHALLS
Loss Prevention Detective
Permanent · Charlotte
MARC JACOB'S
Business Analyst, Supply Chain
Permanent · New York
MARC JACOB'S
Director, Business Applications
Permanent · New York
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time - Outlets at Orange
Permanent · Orange
BLOOMINGDALE'S
Outlet Keyholder Selling, Full Time - Riverhead
Permanent · Riverhead
MACY'S
Asset Protection Detective, Temecula Promenade - Part Time
Permanent · Temecula
By
Reuters API
Published
Jun 9, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

G7 countries devise way to catch Amazon in tax net

By
Reuters API
Published
Jun 9, 2021

G7 states have found a way to include Amazon, one of the world's biggest companies, on a list of 100 set to face higher taxes in the countries where they do business by targeting its more profitable cloud computing unit, officials close to the talks said.i


Reuters


Some European countries had concerns that Amazon may fall out of scope of the proposed new rules because its overall operating margin as a company is less than 10%, which is the threshold set as a criteria for companies on the list.

But because its Amazon Web Services (AWS) business has a margin of more than 30%, Amazon as a whole can be included, the officials, who spoke on condition of anonymity, told Reuters.

International talks on a global minimum corporate tax which was agreed by the Group of Seven rich countries on June 5. are running in parallel to of talks on how to divide the rights to tax excess profits, those which can be considered routine, of the world's 100 biggest, most profitable companies.

G7 finance ministers agreed that governments should get the right to tax at least 20% of profit earned in their country by a multinational, when this profit was over a 10% margin.

"We now decided that if a corporation as a whole does not reach the profitability limit, but a large division of it exceeds the G7 thresholds, it must be included," a source close to the discussions said.

"With this, we're aiming exactly at Amazon," the source added.

Amazon did not immediately respond to requests to comment.

Without singling out Amazon, a British government source familiar with the negotiations said consideration was being given to how the rules would apply to companies that had different activities and business lines.

OECD head of tax Pascal Saint-Amans said that Amazon's AWS unit would be liable because it had revenues exceeding a threshold of 20 billion euros ($24.4 billion).

"The profits linked to the cloud (business) will thus be shared among countries," he told France Info television.

© Thomson Reuters 2022 All rights reserved.