Amazon has had a bad week but there is some comfort for the tech titan – it will not pay a single cent in income tax on the $11.2bn of profits it made last year. In 2018, Amazon nearly doubled its profits, from $5.6bn to $11.2bn. But far from paying the statutory 21% income tax rate, it reported a $129m federal income tax rebate for the year – a tax rate of -1%. Amazon is not alone. As ITEP pointed out, last week Netflix posted a profit of $845m in 2018, its largest ever profit, but paid no federal or state income tax.
— source theguardian.com | 16 Feb 2019