Fair Tax Mark highlights tech giants’ tax gap

Corporation tax paid by Facebook Apple Amazon Netflix Google and Microsoft is much lower than is commonly understood according to research by the Fair Tax Mark. 

The report The Silicon six and their $100 billion global tax gap found that in the period 2010 to 2019 the gap between the expected headline rates of tax and the cash taxes paid by these companies was $155.3bn. Further the gap between the current tax provisions and the cash taxes paid was $100.2bn.

The report concentrates on information contained in form 10-K annual filings in the US where the companies are incorporated and suggests that the bulk of the shortfall almost certainly arose outside the US.

The combined tax contingencies of the six companies have increased fourfold from $8.9bn at the end of 2010 to $47bn in 2019. They have also accrued a further $5.7bn...