Amazon has again managed to contain its UK tax bill and has paid £293 million against sales of just under £14bn. Whilst this is an increase on the £220 million it paid last year, the news will cause many to despair. The business has already announced that it will pass on the tax proposed by the UK government on its business to its sellers.
In a statement Amazon said:
“The UK has now become one of Amazon’s largest global hubs for talent and this year we announced plans to create 10,000 new jobs in the country by the end of 2020.
“We pay all taxes required in the UK and every country where we operate and focusing on one small piece does not provide a full picture of Amazon’s overall contribution to the UK. Corporation tax is based on profits, not revenues, and our profits have remained low given retail is a highly competitive, low-margin business, and we continue to invest heavily.”
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