In this article we are going to list the 5 biggest companies that don’t pay taxes. For a detailed coverage of this topic and a more comprehensive look please visit 15 biggest companies that don’t pay taxes.
5. Chevron (NYSE:CVX)
Total revenue of the company in 2019 (in billions of dollars): 146,516
Total profit of the company in 2019 (in billions of dollars): 2,924
Total assets of the company in 2019 (in billions of dollars): 273,428
Total employees of the company in 2019: 48,200
It is among the biggest oil companies in the world, and despite earning profits worth billions, has been able to avoid taxes.
Ken Wolter / Shutterstock.com
4. Prudential Financial (NYSE:PRU)
Total revenue of the company in 2019 (in billions of dollars): 64,807
Total profit of the company in 2019 (in billions of dollars): 4,186
Total assets of the company in 2019 (in billions of dollars): 896,552
Total employees of the company in 2019: 51,511
Among the biggest financial services companies in the world is Prudential Financial, and of course a financial services company would be well versed in how to not be required to pay tax.
Pixabay/Public Domain
3. General Motors (NYSE:GM)
Total revenue of the company in 2019 (in billions of dollars): 137,237
Total profit of the company in 2019 (in billions of dollars): 6,732
Total assets of the company in 2019 (in billions of dollars): 228,037
Total employees of the company in 2019: 164,000
GM like many companies in the list, has a lot of losses being carried forward which is why despite being profitable, it doesn’t pay a cent in taxes and is able to take all of its income home at the end of the day.
Linda Parton / Shutterstock.com
2. International Business Machines (NYSE:IBM)
Total revenue of the company in 2019 (in billions of dollars): 77,147
Total profit of the company in 2019 (in billions of dollars): 9,431
Total assets of the company in 2019 (in billions of dollars): 152,186
Total employees of the company in 2019: 383,800
One of the biggest semiconductor companies in the world is IBM, which has operations in more than 170 countries, and despite high profits, did not pay any income tax in 2018.
Pixabay/Public Domain
1. Amazon (NASDAQ:AMZN)
Total revenue of the company in 2019 (in billions of dollars): 280,522
Total profit of the company in 2019 (in billions of dollars): 11,588
Total assets of the company in 2019 (in billions of dollars): 225,248
Total employees of the company in 2019: 798,000
Easily topping the list of the 5 biggest companies that don’t pay taxes is Amazon, which is among the largest companies in the world in 2021. As I mentioned earlier, for many years Amazon was not profitable and made huge losses as it made inroads into the e-commerce market and gained a major market share by using extremely low prices as a strategy. This has allowed the company to use the tax losses from those years which are brought forward against any income earned and hence, avoid paid taxes even though they have an income of more than $10 billion.
Pixabay/ Public Domain
