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.
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