August 3, 2018
Amazon has declared its lowest UK corporation tax bill in five years as the web giant was accused of killing the high street.
The online retailer paid £4.6million last year – or just over 6% on profits of £72million – despite the firm’s UK sales soaring by a quarter to £8.8billion in 2017.
Meanwhile, British retailers with similar UK sales paid up to 20 times as much tax.
One campaigner said: “We need to rebalance the system.”
Amazon rang up record UK sales last year as its declared profits here soared three-fold – yet slashed its corporation tax bill by over a third.
A Mirror investigation has found the online giant pays just a fraction of the corporation tax of its High Street rivals, levied at 19% on company profits.
This article was posted: Friday, August 3, 2018 at 7:21 am