Amazon pays £293m in direct UK tax despite £13.7bn revenue
Amazon paid out £293m in “direct taxes” on its UK operations in 2019, despite the group’s UK revenue surging to £13.7bn that year.
Amazon’s payment of direct taxes, which includes National Insurance, business rates, stamp duty, and corporation tax, rose 33% year on year, which the etailer attributed to headcount growth and increases in accounting profits.
One would be forgiven for thinking retail was on its proverbial deathbed given some of the media coverage of the past few days.
National news bulletins on Tuesday night led to Greggs’ job cuts warning and the profit declines at Hotel Chocolat, Card Factory, and ScS.
Some snippets charting how Ocado’s market capitalization briefly surged above that of Tesco used their values as evidence that physical retail was ailing and technology taking over.
But those headlines don’t even begin to paint the full picture – one of an industry that is battling back amid the most challenging of social and economic backdrops.
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