Amazon reportedly paid no income tax on $55 billion in European sales in 2021

Although Amazon's main European business saw an increase in sales to around $55 billion last year, the company avoided paying income tax. It posted a loss of €1.16 billion euros ($1.26 billion) and it even received €1 billion in tax credits. According to filings obtained by Bloomberg , the credit was "mainly due to the use of net losses carried forward in accordance with the tax consolidation system." The Amazon EU Sarl unit is based in Luxembourg and reports revenue from its divisions in th...