Top Institutional Investors Call On Amazon Over Global Tax Transparency

Twenty-four institutional investors in Amazon.com Inc AMZN urged the e-commerce group to increase its global tax policy transparency, Financial Times reports.
The shareholder resolution called Amazon’s board to issue a tax transparency report to shareholders, “at reasonable expense and excluding confidential information,” following the Global Reporting Initiative’s (GRI) tax standard.
This model sought for a public disclosure of their business activities, revenues, profit, and tax paid in each country they operate.
The investors include Nordea, Royal London, and several large European and U.S. pension funds.
The investors strived for a shareholder resolution to significantly overhaul the company’s tax public disclosures.
In December, a Catholic investment fund and U.K. public retirement scheme brought the resolution demanding Amazon adopt a new reporting standard on tax practices.
Price Action: AMZN shares traded lower by 0.71% at $2,892 in the premarket on the last check Monday.