Silicon Valley giants accused of avoiding over $100 billion in taxes over the last decade | WHAT REALLY HAPPENED

Silicon Valley giants accused of avoiding over $100 billion in taxes over the last decade

Six of Silicon Valley’s biggest companies had a combined “tax gap” of more than $100 billion this decade, according to a new analysis.

Fair Tax Mark, a British organization that certifies businesses for good tax conduct, assessed global tax payments from Facebook, Apple, Amazon, Netflix, Google and Microsoft between 2010 and 2019. The companies are sometimes collectively referred to as the “Silicon Six.”

The research, published Monday, analyzed their 10-K filings, which are financial forms submitted by businesses to the U.S. government.

It looked at tax provisions — the amount companies set aside in their financial reports to pay taxes — and compared those to the amounts that were actually handed over to the government, referred to as cash taxes. Over the decade, the gap between the Silicon Six’s provisions and the taxes they actually paid reached $100.2 billion, researchers found.

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