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The Silicon Six and their $100 billion global tax gap

Publish Date: 01-12-2019

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Source: Fair Tax Mark


Type: Report

Synopsis: Facebook, Apple, Amazon, Netflix, Google and Microsoft are some of the world’s biggest companies, and together have a combined market capitalization of $4.5 trillion. They are worth more than the 1,000 companies listed on the London Stock Exchange. Our analysis of the long-run effective tax rate of the Silicon Six over the decade to date has found that there is a significant difference between the cash taxes paid and both the expected headline rate of tax and, more significantly, the reported current tax provisions. We conclude that corporation tax paid is much lower than is commonly understood. Over the period 2010 to 2019: • the gap between the expected headline rates of tax and the cash taxes actually paid was $155.3bn • the gap between the current tax provision

Public Link: https://fairtaxmark.net/wp-content/uploads/2019/12/Silicon-Six-Report-5-12-19.pdf

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