RIO DE JANEIRO, BRAZIL - Technology giants like Amazon, Google, and Facebook pay up to 75% less tax on net income in Brazil than other companies of the same size, according to a report by Federal Deputy João Maia (PL-RN) based on data from the Internal Revenue Service.
This would happen, according to the report, because these companies operate in a country where they have no physical presence, which would allow the profits to be shifted to other jurisdictions and reduce the equivalent amount to be taxed. In response, the companies denied any benefits.
In an interview with R7 . . .