Summary
The article titled “Amazon’s Shifting Tax Story” describes how the e-commerce company Amazon has moved its assets overseas in order to pay less taxes in the United States, where it is headquartered. In 2005, Amazon, a company since the early 1990s, moved its technology assets to the small European country of Luxembourg. Luxembourg is a “tax haven” because the revenue that the branch collects there is tax-free. Amazon pays royalties to Luxembourg in order to save billions of dollars in taxes that it would normally pay if its operations had remained in the United States. Amazon is not ...