Global tax deal may let Amazon off the hook

Experts have said that Amazon may escape paying significantly more tax unless world leaders close a large loophole in a historic global tax deal, agreed by the G7 group of wealthy nations. The two “pillars” of the deal would make companies pay a percentage of their profits in markets where they make large sales, as well as setting a global minimum corporation tax. However, as Amazon’s profit margin in 2020 was only 6.3%, it may be able to escape measures to tax “profit exceeding a 10% margin” for the largest multinationals.