Amazon accused of 'appalling tax avoidance' after it emerges European arm ...

Amazon is accused of 'appalling tax avoidance' after it emerges the company's European arm scored record sales of £38billion last year... but didn't pay a penny in corporation levy Amazon's European business didn't pay corporation tax last year  It was despite sales rocketing from £27.9billion in 2019 to £38billion in 2020  Accounts filed in Luxembourg showed losses soared from £580m to £1billion Because of this, Amazon received tax credit which it can deduct from future bills An Amazon spokesman yesterday insisted it ‘pays all the taxes required’ 

By Matt Oliver For The Daily Mail

Published: 00:38 BST, 5 May 2021 | Updated: 00:38 BST, 5 May 2021

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Amazon's European business paid no corporation tax last year despite record sales of £38billion.

Sales rocketed from £27.9billion in 2019 as the pandemic fuelled demand for internet shopping.

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The global giant racked up revenues of more than £4million an hour in 2020. However, it paid no corporation tax after recording its biggest annual loss so far.

Accounts filed in Luxembourg, where the company’s European division is based, showed losses soared from £508million to £1billion. Because of this, Amazon actually received a tax credit – money it can deduct from future bills – worth £49million.

The company has denied claims that it struck a ‘sweetheart deal’ with Luxembourg tax chiefs. Paul Monaghan, of the Fair Tax Foundation, said: ‘These figures are mind-blowing, even for Amazon.

Amazon's European business paid no corporation tax last year despite record sales of £38billion, skyrocketing from £27.9billion in 2019 as the pandemic fuelled demand for internet shopping (stock image)

Amazon's European business paid no corporation tax last year despite record sales of £38billion, skyrocketing from £27.9billion in 2019 as the pandemic fuelled demand for internet shopping (stock image)

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