WASHINGTON, United States — US Treasury Secretary Janet Yellen said Thursday she is "not certain" if Amazon will have to pay up under a worldwide minimum tax she is encouraging countries, including her own, to adopt. The plan would also allow countries to tax a share of profits of the most profitable countries in the world, regardless of where they're based. Amazon, which has used optimization arrangements to lower its tax bill, has been the target of levies imposed unilaterally by countries including France, Italy, Spain and Britain. Those will fall away once a global agreement takes effect, and the company has signaled approval of the deal. More than 130 countries have already agreed to reforms on international taxation, and on Saturday finance ministers from the G20 -- the 19 largest global economies plus the European Union -- backed the agreement.

Source: Philippine Star July 15, 2021 21:45 UTC