After doubling profits in 2018, Amazon won't pay taxes
Economies.com
2019-02-15 20:34PM UTC
Amazon dominates the online shopping market in the US, while ranking third in market value in the US at $800 billion after surpassing $1 trillion last year.
Despite the rocketing growth, Amazon still won't pay any taxes according to what the IRS announced.
The taxing agency in the US said Amazon doubled profits last year to $11.2 billion from $5.6 billion.
However, Amazon benefited from a tax credit, and after President Trump's initiative to cut corporate taxes from 35% to 21%, the effective tax rate become -1%.
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