By Max Greenhalgh • 01 June 2023 • 8:04
amazon office logo
Image: Sundry-Photography Shutterstock.com
The main UK division of Amazon has paid no corporation tax for the 2nd year running.
It has been confirmed that online giant Amazon UK Services have avoided paying any corporation tax for a 2nd year running.
The UK division of Amazon also received a tax credit of £7.7 million according to accounts filed at Companies House.
Amazon’s profits rose 9% in 2022 and sales by almost 8% to £6.56bn.
Chief executive of the Fair Tax Foundation, Paul Monaghan said: “Over the last decade, Amazon has grown its market domination across the globe on the back of income that is largely untaxed – allowing it to unfairly undercut local businesses that take a more responsible approach.”
Monaghan continued: “We now have a situation where Amazon UK Services is not only not paying tax, but is being handed tax credits for investment that almost certainly would have happened anyway. Tax credits for old rope, if you will. These super-deductions have not only wiped out the corporation charge for the last two years but will likely do so again in 2023 and possibly 2024.”
At the beginning of the year, Amazon announced some closures to its UK business. 3 of its UK warehouses will close along with 7 small delivery sites. The cuts will affect more than 1,300 jobs.
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