Amazon’s biggest UK division has slashed its corporation tax even as sales surge

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CNBC
August 10, 2017

Amazon halved the amount of U.K. corporation tax it paid last year while more than doubling turnover during the same period.

Accounts filed by Amazon UK Services show the company was billed just £7.4 million ($9.6 mn) for 2016 compared with £15.8 mn in 2015.

And once a series of deductions had been added, Amazon UK Services actually received a £1.3 million credit from the U.K. authorities.

Amazon said in a statement: “We pay all taxes required in the UK and every country where we operate. Corporation tax is based on profits, not revenues, and our profits have remained low given retail is a highly competitive, low-margin business and our continued heavy investment.”

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This article was posted: Thursday, August 10, 2017 at 9:39 am






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