Amazon's UK corporation tax halves while turnover jumps
Internet giant Amazon saw steep drop in the amount of UK corporation tax it paid last year while it enjoyed a 54 per cent increase in turnover in the same period.
Accounts filed by Amazon UK Services show the company was billed £15.8 million in 2015, compared with £7.4m in 2016.
In the same period, turnover at Amazon UK Services broke the £1 billion barrier for the first time, climbing from £946m to £1.46bn, while profit before tax fell from £48.5m to £24.2m.
The company’s tax bill has been described by one MP as “peanuts”. Conservative Charlie Elphicke said: “People will say it’s high time Amazon paid their fair share.”
The company has said it meets all tax obligations in the UK and every other country in which it operates.