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Fresh questions for Amazon over pittance it pays in tax

Posted By admin On May 16, 2013 @ 4:56 am In Money Watch | Comments Disabled

Ian Griffiths and Simon Bowers
London Guardian [1]
May 16, 2013

MPs are ready to haul Amazon back to parliament to answer new questions about its tax status in Britain after a Guardian investigation’s findings suggest the online retailer is pushing the tax rulebook to its limits to minimise its tax bill.

Company filings showed Amazon’s main UK company paid just £3.2m in corporation tax on sales of £320m last year. However, the Seattle-based group has told investors its 2012 UK sales were £4.2bn.

The Guardian investigation has found Amazon pushing definitions close to breaking point; and tax authorities unable, or unwilling, to prevent the imposition of aggressive tax avoidance [2] structures.

Information collected by the Guardian details extensive UK activities that suggest HM Revenue and Customs could take a much tougher line on taxing Amazon’s multibillion-pound British operations.

Full article here [1]

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URLs in this post:

[1] London Guardian: http://www.guardian.co.uk/technology/2013/may/15/amazon-tax-bill-new-questions

[2] tax avoidance: http://www.guardian.co.uk/business/taxavoidance

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