Quote:
Originally Posted by Rizla
Amazon only paid $3.2m of tax on $7.2bn of profit over 3 years in the UK.
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It is very important to distinguish between sales and profit. I'm not sure what source you have for your figures, but given the figures in
this article, that $7.2bn must be sales, not profit.
(The figures I found said that in 2011 Amazon made sales in the UK of between $5.3bn and $7.2bn, but paid only $1m in UK income tax.)
This is because the current EU laws allow them to register the profit from UK operations almost entirely in Luxembourg, where there's only an 11% tax rate on profits from foreign operations.
The solution to this is to fix the EU tax laws.