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Wednesday, May 28, 2014

The tax they don't pay

Also from The Bookseller

It was also revealed this weekend that Amazon routed £11bn through its Luxembourg office last year, where it has based its European operation.
The amount is up on the €11.9bn (£9.5bn) Amazon funnelled through its European head office in 2012, reported The Sunday Times.

The newspaper also reported that the online retailer also claimed a £4m rebate from the taxman in Luxembourg.

In 2013 the company only paid £4.2m in corporation tax in the UK, even though it generated sales here of £4.3bn.
The revelation, in the company’s accounts, led MP Margaret Hodge to say customers should “shop elsewhere”.
Amazon is certainly not alone in this -- Starbucks is another multinational that springs to mind. But it is a disgrace that these conglomerates make huge money out of their worldwide audience, but refuse to contribute their share.

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