So they pay $1 billion in taxes on sales of at least $500 billion?
An effective tax rate of a whopping..... 0.2%
It might as well be 0%. It probably costs more to collect it.
$500 billion? Hardly. From foreign-owned corporations, the IRS withheld $1.3 billion on about $90 billion in US-sourced income. Mind you, that's only foreign corporations - add in foreign individuals, trusts, partnerships and so forth, and the number change.