Trump tweet goes after a favorite target, Amazon

Trump loads another tweet into the chamber — and fires on Amazon again

"The value that Amazon delivers is variety and convenience ahead of price".

A day after reports suggested Donald Trump has it in for Amazon, the USA president added gasoline to the fire on Thursday, tweeting that the company is dodging its tax obligations.

On Wednesday, a news report in Axios, citing five unnamed sources, said the president is considering whether to change Amazon's tax treatment because the online retailing giant doesn't pay its fair share of taxes and has hurt smaller competitors.

Amazon's annual report shows the company set aside $769 million USA to pay various income taxes for fiscal 2017, but by taking advantage of a variety of tax breaks tied to executive compensation and deferring tax liabilities for as long as possible, the actual amount it paid in federal taxes is a fraction of that. "Unlike others, they pay little or no taxes to state & local governments", Trump wrote on Twitter, "use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.) and are putting many thousands of retailers out of business!"

Asked about Trump's tweet, an administration official pointed to this tax-free setup for most third-party vendors using Amazon's website. The stock closed Wednesday down 4.4 percent - the biggest drop in a month - at $1,431.42 a share. Cloudtail reported revenues of nearly Rs 5,900 crore for the financial year ending March 2017.

Amazon, among tech companies, is Trump's favorite target, and not just for package delivery.

Some retail competitors believe the third-party vendor policy gives the retail giant an unfair advantage, which may very well be true - Amazon reported a provisional tax expense of roughly $200m in U.S. state taxes previous year, pennies against their $177.9B annual sales. There is an argument that the rise of Amazon has actually benefitted the postal service.

"Singling out favorite Trump villains like Amazon is a distraction from our bipartisan effort". "It's creating jobs in logistics and warehousing". But anyway, Amazon has in fact been collecting state and local sales taxes on online sales for several years now, and now collects them in every state with a sales tax.

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Following the release of the article, the White House was asked if there is a plan to target Amazon but Press Secretary Sarah Sanders said no said specific policies were now being considered. Such sales make up about half of the company's volume.

"Amazon is doing great damage to tax-paying retailers".

Investors largely waved off concerns about that on Thursday.

This story has been sourced from a third party syndicated feed, agencies. "And he's always going to look at different ways, but there aren't specific policies on the table at this time".

The reality, however, is that Amazon has little to do with why USPS has been bleeding red ink. USPS declined to comment on Trump's tweet.

The service has a decade-long string of fiscal net losses, which has led to more than $120 billion in unfunded liabilities, mostly retirement health and pension benefits. During its most recent fiscal year, which ended in September, the USPS reported a total annual revenue of $69.7 billion, which was less than the $71.4 billion recorded in fiscal year 2016.

"If you think about the movement into e-commerce and away from bricks and mortars, it's the fellows that own the shopping malls that are bearing the brunt of a lot of this challenge", De Silva said. But there are other factors, such as high debt, and Amazon is not exclusively responsible.

Amazon is not involved in the case but the eventual ruling could have consequences for the online retailing behemoth and other e-commerce businesses.

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