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Amazon’s tax tussle raises broader questions for investors

The upcoming vote could be a litmus test for those who profess to be champions of ESG

The “double Irish” has had its day. Wrangling over the tax affairs of US tech companies has not.

Amazon investors will next month vote on a shareholder proposal asking it to produce a tax transparency report, one aligned with global standards that include country-by-country reporting of taxes paid.

A repeat of the giant-killing exploits of the tiny Engine No. 1 fund, which last year took on Exxon over its approach to climate change, looks unlikely. But it is significant that a vote on the proposal, led by a Catholic investment fund and the UK’s Greater Manchester Pension Fund, is happening at all.

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