- Prison Planet.com - http://www.prisonplanet.com -

Amazon: £7bn sales, no UK corporation tax

Posted By admin On April 5, 2012 @ 2:44 am In World News | Comments Disabled

Ian Griffiths
London Guardian [1]
April 5, 2012

Amazon.co.uk, Britain’s biggest online retailer, generated sales of more than £3.3bn in the country last year but paid no corporation tax on any of the profits from that income – and is under investigation by the UK tax authorities.

Regulatory filings by parent company Amazon.com with the US securities and exchange commission (SEC) show the tax inquiry into the UK operation, which sells nearly one in four books sold in Britain, focuses on a period when ownership of the British business was transferred to a Luxembourg company.

The SEC filings, highlighted by Bookseller magazine, show that in the past three years, Amazon has generated sales of more than £7.6bn in the UK without attracting any corporation tax on the profits from those sales.

HM Revenue & Customs (HMRC) refused to confirm it was investigating Amazon.co.uk, and its inquiries could be a routine audit. But Amazon’s tax affairs are being investigated in the US, China, Germany, France, Japan and Luxembourg.

Full article here [1]


Article printed from Prison Planet.com: http://www.prisonplanet.com

URL to article: http://www.prisonplanet.com/amazon-7bn-sales-no-uk-corporation-tax.html

URLs in this post:

[1] London Guardian: http://www.guardian.co.uk/technology/2012/apr/04/amazon-british-operation-corporation-tax

[2] Fresh questions for Amazon over pittance it pays in tax: http://www.prisonplanet.com/fresh-questions-for-amazon-over-pittance-it-pays-in-tax.html

[3] In a State’s Search for Sales Tax, Amazon Raises Privacy Concerns: http://www.prisonplanet.com/in-a-state%e2%80%99s-search-for-sales-tax-amazon-raises-privacy-concerns.html

[4] Sales of George Orwell’s ’1984′ up 69 percent on Amazon: http://www.prisonplanet.com/sales-of-george-orwell%e2%80%99s-%e2%80%991984%e2%80%b2-up-69-percent-on-amazon.html

[5] Barclays bank forced to admit it paid just 1% in corporation tax in 2009: http://www.prisonplanet.com/barclays-bank-forced-to-admit-it-paid-just-1-in-corporation-tax-in-2009.html

[6] Apple paid no UK corporation tax in 2012: http://www.prisonplanet.com/apple-paid-no-uk-corporation-tax-in-2012.html

Copyright © 2013 PrisonPlanet.com. All rights reserved.