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Economy
March 31 2021 5:18pm

Biden wants to raise corporate tax to 28%, calls out Amazon for not paying federal income tax in U.S.

U.S. President Joe Biden on Wednesday called for multinational corporations in the United States to pay higher federal income taxes, suggesting raising the rate to 28 per cent from 21 per cent. Biden added there are 91 Fortune 500 companies in the world, including Amazon, that use “various loopholes” to not pay federal income tax in the country.

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