Big Tech avoided $278 billion in corporate tax over the past decade, says watchdog

Cutting corners: A new report has reignited the debate over how much tax the world's largest technology companies pay, revealing that the so-called "Silicon Six" – Amazon, Apple, Alphabet, Meta, Microsoft, and Netflix – have paid nearly $278 billion less in corporate income tax over the past decade than would be expected if their profits were taxed at the average statutory rate for US companies. The analysis, conducted by the Fair Tax Foundation (FTF), scrutinizes the financial records and tax strategies of these digital giants, whose combined market capitalization now exceeds $12.9 trillion, making them collectively more valuable than the entire FTSE 100 and Euro Stoxx 50 indices. According to the FTF, the Silicon Six generated $11 trillion in revenue and $2.5 trillion in profits over the last ten years. Despite these staggering figures, their average effective corporate tax rate was just 18.8 percent, well below the U.S. average of 29.7 percent during the same period and the global ... Read full article.