*magic profits away = 魔法をつかって利益を消してしまう、利益隠し、

The issue is tax - or rather a lack of it. The most creative corporate tax minimisers are big, mostly American, technology firms. Countries such as France and Italy harrumph that they are deprived of billions in tax receipts each year as Google, Amazon and their kind magic profits away from where business is done to where they are taxed least.

Digital taxation - A tech-taxing tangle The Economist Dec. 8th 2018 ハイテク企業に対する課税政策

から