Amazon has defended its contribution to the UK economy as 2020 accounts show its UK support arm paid £18.3m in corporation tax as coronavirus crisis demand meant total group revenues passed £20bn in the country.
Read the full article on the Sky News website
NAM Implications:
- Amazon UK is clearly still in Invest mode i.e. £1.6bn invest means tax reduction.
- Until Amazon have reached saturation-UK only then will it officially be liable for corporation tax on UK profits.
- i.e. still a bit to go…
