Amazon received more money from UK grants than it paid in corporation tax
Way to go Amazon..
Amazon is on a fresh collision course over its contribution to the UK exchequer, after the American internet giant revealed it received more money in government grants last year than it paid in corporation tax in Britain.
Amazon’s UK operation generated £4.2bn of sales last year, but it used a subsidiary in Luxembourg to help it reduce its corporation tax bill in the country to just £2.4m in 2012. According to documents filed at Companies House, the company received £2.5m in government handouts over the same period. source
Amazon is on a fresh collision course over its contribution to the UK exchequer, after the American internet giant revealed it received more money in government grants last year than it paid in corporation tax in Britain.
Amazon’s UK operation generated £4.2bn of sales last year, but it used a subsidiary in Luxembourg to help it reduce its corporation tax bill in the country to just £2.4m in 2012. According to documents filed at Companies House, the company received £2.5m in government handouts over the same period. source