Why $370bn tech group Palantir pays just 1.4 percent tax: Report

Palantir Technologies, the United States data analytics and artificial intelligence company which has contracts with the country’s military and intelligence apparatus, has “engineered its corporate structure” to pay no US federal corporate income tax, according to a new report.The study by the Centre for International Corporate Tax Accountability and Research (CICTAR) comes as Palantir reports soaring revenues, driven partly by government contracts, while it faces continued criticism for providing technology to the Israeli military amid the genocide in Gaza.Recommended Stories list of 4 itemslist 1 of 4UK police confirm Uganda boxers unaccounted for after Commonwealth Gameslist 2 of 4What to know about this week’s US primary elections in Tennessee and Hawaiilist 3 of 4Sheikh Hasina vows to return, but will Bangladesh accept convicted ex-PM?list 4 of 4‘Thousands of bookings to cancel’: Iran war upends Europe’s summer holidaysend of listHere’s what we know.What does the report show?Earlier this week, Palantir reported second-quarter revenue of $1.94bn, up 93 percent from a year earlier. But despite its rapid growth, CICTAR said its global effective tax rate was just 1.4 percent in 20...