Saturday, February 20, 2016

Revealed: how Project Goldcrest helped Amazon avoid huge sums in tax - The Guardian

Panzer, our intrepid traveling kitty, stopped in at The Guardian site today. After just a little digging around, he found a post about Amazon and the Internal Revenue Service (IRS).

Let's take a closer look at this.
According to the post there, Amazon is being forced to shine a light on their payment of taxes or lack of payment in the United States. The Internal Revenue Service (IRS) has taken Amazon to court. The IRS hopes to prove to the court that Amazon's complicated company structure was set up to avoid U.S. taxes. Documents presented in court show that under the code name Goldcrest companies and subsidiary companies were formed in other countries so Amazon pays very little in U.S. taxes.

Panzer says, "Hmm ... Avoid taxes ... Isn't that what all humans want to do?"

Note: This is a h-u-g-e post with extra links at the end. You'll need a thermos of tea and a dozen muffins for your read today.

To read the post, tootle over to Amazon

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