Friday, 3 August 2018

Amazon UK tax bill slashed despite profits almost doubling

Amazon's UK tax bill last year was £2.8m less than 2016 despite nearly doubling its profits, its accounts have revealed.
Amazon UK Services Limited, which runs the fulfilment centres to process, package and post deliveries, incurred £4.6m in UK corporation tax in 2017 while the year before had a figure of £7.4m.
And the online retail superpower only paid £1.7m in tax after deferring £2.9m.

It made an operating profit of nearly £80m in the UK, a major increase from £48m in 2016.

During 2017 Amazon UK Services had an average of 19,749 employees - more than two-thirds of Amazon's 27,000-strong UK workforce.

The company defended paying less tax while making millions more, with a spokesman telling Sky News it paid all the tax it was required to "in the UK and every country where we operate".

He said the numbers were so stark due to establishing a "local country branch" in 2015 "to ensure we had the best business structure to serve our customers going forward".

SKY      News.

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