UK Prime Minister To Challenge Jeff Bezos In Face-To-Face Meeting During US Visit Over Amazon's Tax Record: FT

The United Kingdom Prime Minister Boris Johnson plans to question Amazon.com Inc AMZN founder Jeff Bezos over his company's poor tax record when the duo meets face-to-face in New York on Monday, as per a Financial Times report citing British officials.

What Happened: Johnson reportedly plans on, among other things, raising concerns around the international corporate tax rates for tech giants when he meets Bezos.

As per Johnson’s spokesperson, the U.K. has been in support of an international solution to the tax challenges posed by the digitalization of the economy.

See Also: Jeff Bezos Lends Support To Biden's Corporate Tax Rate Hike, Infrastructure Plan

Why It Matters: In July, leading economies across the globe signed up to a plan to force multinational companies to pay a global minimum corporate tax rate of at least 15% following intense negotiations.

The historic agreement among 130 countries would ensure the largest companies, including Big Tech, pay at least $100 billion a year more in taxes. A chunk of that contribution would go to the countries where these companies do most of their business.

Price Action: Amazon shares closed 0.74% lower at $3,462.52 on Friday.