Prison » Amazon now pays even LESS tax while struggling High Street firms pay up to 20 times more

The Mirror
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.

Read more

This article was posted: Friday, August 3, 2018 at 7:21 am

Read more