Jakarta –
Tesla CEO Elon Musk says his electric car company probably won’t pay a dime in taxes to the United States (US).
He has indeed repeatedly complained about paying taxes of US$ 11 billion or equivalent to Rp. 156 trillion (exchange rate: Rp. 14,200) in 2021. This amount, according to him, is greater than the tax of anyone who has ever paid taxes.
Tesla itself actually managed to record a net profit of US $ 5.5 billion and revenues of US $ 7.6 billion in 2021.
The reason for Elon’s reluctance to pay taxes is that Tesla lost $130 million in revenue last year in the US. In addition, more than US$6 billion of its revenue last year came from the company’s operations outside the US.
That means, Tesla will pay their taxes overseas. Elon detailed his foreign tax bill reached US$ 839 million. Meanwhile, the tax bill for the states in the area of operation is only US $ 9 million, and the state tax bill is zero.
Tax Analyst, Non-Profit Tax Publisher, and Expert on Corporate Tax Practices in the US Martin Sullivan said Elon’s stance did not conflict with existing regulations. “Indeed, it seems against common sense, but not against the tax laws in the US,” he explained, citing CNN Business, Friday (11/02/2022).
According to Sullvian, Tesla’s income in the US is only slightly or even nil which is taxed because it is Tesla’s subsidiary that generates revenue. On the other hand, Tesla’s operations at its headquarters have suffered losses.
Sullivan believes Tesla’s $130 million loss in the US is most likely due to a practice common to US multinationals
Even so, Senator Elizabeth Warren criticized Elon’s attitude, which he called a trick. “Tesla and other corporate giants have long used fraud and loopholes to help them get out of tax liability, it has to stop,” he stressed.
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