Margaret Hodge tells Amazon to ‘pay a fair tax’
Amazon paid only £9.7m in corporation tax in Britain last year, despite revenues rising 13% to a record £4.7bn
Friday 09 May 2014
The online retailer Amazon has provoked more controversy about its tax avoidance after accounts yesterday showed it paid only £9.7m in corporation tax in Britain last year, despite revenues rising 13 per cent to a record £4.7bn.
Published accounts for Amazon.co.uk reported sales of only £449m. However, the US parent company’s stock market filings, under US accounting rules, show it made 10 times that amount from Britain. Most of the £4.7bn in sales were processed offshore in Luxembourg to avoid UK tax.
Margaret Hodge, who chairs the Commons Public Accounts Committee and is a vehement critic of Amazon’s tax arrangements, said: “It’s not on. Everything you get from them says Amazon.co.uk on it. Every parcel you get from them says Royal Mail with a British stamp on it.
“To their customer base, they pretend to be British, yet they refuse to pay their tax. All we ask is that they pay a fair tax on their business in the UK.”
An Amazon spokesperson said: “Amazon pays all applicable taxes in every jurisdiction that it operates within.”
- 2 Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
- 3 Andy Murray takes to Twitter to show off his Christmas jumper
- 4 Margaret Thatcher 'expressed fears of Asian rising' at Anglo-Irish summit in 1984
PlayStation and Xbox hacked by Lizard Squad
Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
Dublin court rules brain-dead pregnant mother's life support can be switched off
Margaret Thatcher 'expressed fears of Asian rising' at Anglo-Irish summit in 1984
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...