Friday, May 17, 2013

Amazon pays 0.1% tax on $6.4B sales

Amazon received nearly as much in government grants as it paid in UK tax in 2012, according to new figures likely to stoke the tax controversy surrounding the online retailer which made sales to British customers of £4.26bn in 2012.

Margaret Hodge, chair of the Public Accounts Committee which is set to grill Google on its tax affairs on Thursday, said the tax payment was "just a joke"., which reported a tax charge of £3.2m for 2012, received £2.5m in grants during the year.