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The G7 is moving to use Amazon in its new corporate tax plans

Finance ministers are planning to run Amazon’s lucrative electronics business to ensure it pays more corporate taxes under the new G7 treaty around the world.

While Amazon appears to be lagging behind the G7 limit, the $ 1.6tn technical team has to pay corporate taxes in its largest markets as global unity approval, according to the people closest to the negotiations.

Amazon did not start making big profits until 2017, and has been below the 10% limit set by the G7.

However, the OECD in Paris, which calls for international dialogue, is exploring a unique way to play a role in using computers on Amazon as a unique group, someone said in a statement. This will ensure that Amazon pays the most taxes in major European countries such as France, Germany, the UK and Italy.

Amazon Web Services ’operating revenue jumped 47% to $ 13.5bn last year, making it a good 30% target by 2020, compared to 3% of its retail sales.

The OECD’s idea of ​​enacting such rules at large and profitable corporations will ensure that all American giants are taken over by the G7 international tax agreement.

In terms of G7 talks over the weekend many of the reasons why companies pay so much taxes in the areas where they work have not been disclosed. The group said the countries in which the trade was sold “will be granted a 20% tax rebate of more than 10% in the largest and most profitable businesses in the world”.

Amazon Web Services was established in 2006 but Amazon did not reduce the number of unit operations until 2015. The revenue last year increased by 30% to $ 45.4bn. Amazon’s shares have risen more than 700 percent since the launch of AWS operations.

Janet Yellen, US Treasury Secretary, wrote over the weekend that all American giants should be supported. Asked specifically about Facebook and Amazon, he said the G7 deal “will involve major for-profit companies, and those companies, I believe, will fit into almost every definition”.

Amazon declined to comment but described the G7 deal over the weekend as a “welcome part”.

“We hope that the OECD-led approach to national solutions will help bring stability to global taxation,” the company said.

Seamus Coffey, an economist at University College Cork and a former Irish government adviser on tax reform, criticized the idea that finance ministers could devise a way to integrate Amazon into the spotlight.

“If you’re making rules for the use of companies or other companies, I’m not sure this is a good foundation,” Coffey said. “Doing business is a cheap business – just because you do online doesn’t change that.”

A new way of earning the most foreign currency in the countries where it has been sold is unlikely to earn much money, tax experts say.

Several billion-dollar companies of Silicon Valley may not be excluded from the idea of ​​”Law 1″, including Uber, Tesla, Twitter and Snap, as they remain money launderers, or their pre-tax rates were less than 10% last year.

More money will be raised by international taxes that are asked at a reasonable rate of “at least 15 percent” if it is spent on countries. In this case, the lion’s share of the supplement goes to the US.

The US is benefiting greatly as its various countries have exchanged profits around the world to avoid US corporate taxes, leaving it with one of the lowest rates received in developing countries. The United States currently raises 1% of national revenue from corporate taxes, compared to 3% of the OECD average.

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