Minimum tax proposal affects about 200 companies in Amazon, Google and US – Época Negócios

Proposal A new minimum tax To us United States About 200 of them could affect companies Great technologies Such as Amazon, Facebook, Google and General Motors. The findings come from a study released Thursday by the office of Democrat Senator Elizabeth Warren in Massachusetts.

Under the bill, the 15% tax would apply to companies with an accounting income of more than $ 1 billion (BRL 5.55 billion at current rates) to their shareholders. The move is part of President Joe Biden’s package of plans to free up $ 1.85 trillion (approximately $ 10.27 trillion) and subsidize social investment in education, public health and clean energy. The plan is still under discussion in Congress.

A recent assessment by the Joint Taxation Commission indicated that the new minimum tax would raise $ 319 billion (over R $ 1.7 trillion) in 10 years. Earlier, Biden had promised to increase the corporate tax rate from 21% to 28%, but he canceled the idea with the expected collection of the new 15% rate.

The report by Senator Warren indicates what companies want Amazon, T-Mobile, Facebook, FedEx, Google e Verizon They will have to pay more to the US government if the move is passed.

“The big companies have figured out how to handle this system so that the costs of running this country are borne by working families, while these big companies absorb all the profits and pay little or nothing in taxes,” the senator said in an interview. The New York Times reported.

More taxes

According to the report, Amazon would have paid 11.5% at a rate of 21% in 2020, based on data compiled by the company on taxation and economic policy. Had the new minimum tax been in effect, big technology would have paid an extra US $. 836 million (estimated at R $ 4.6 billion).

FedEx, for example, would have paid 11.5% of the total tax rate, according to the survey. This indicates that the company will provide a further $ 518 million (more than R $ 2.8 billion) by 2020, subject to the approved minimum tax scenario.

To do New York Times, Did not comment on the Amazon report. FedEx, on the other hand, said it had complied with all tax obligations over the past year and that the disclosed analysis was “premature”. “As long as there are clear details about the calculation of this proposed minimum corporate tax, it is a foregone conclusion or estimate of how the tax will apply to specific companies,” said spokesman Chris Allen.

See exclusive content of Business season? Get access to the digital version.