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Old 19-05-13, 22:12   #2
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Angry Re: Google & Amazon Cheat Taxman out of Billions-Moves Income

Amazon Faces New £4 Billion ($6 Billion)Quiz: Company could join Google in fresh Grilling by MPs over tiny Tax Bill

  • Paid just £2.4 Million ($3.6 Billion) in corporation tax on UK sales of £320 Million ($480 Billion) last year.
  • Seattle-based group told investors its turnover was more than £4 Billion ($6 Billion.
  • Margaret Hodge, chair of public accounts committee, could recall company
By Daily Mail, 16 May 2013


The internet giant Amazon could be hauled before MPs just like Google, MPs suggested yesterday after serious doubts were raised about how much tax it pays in this country.
The company, which sells everything from books to bread, said it paid just £2.44million in corporation tax on UK sales of £320million last year.
But the Seattle-based group told its investors that it actually made 13 times this amount, claiming the UK sales were actually more than £4billion.



Scrutiny: Amazon paid just £2.4million in corporation tax despite UK sales of more than £320million last year


Margaret Hodge, the outspoken chairman of the Public Accounts Committee, has slammed Amazon’s tiny tax bill as a ‘joke.’
Last night, she said: ‘We will now consider whether we need to recall them to explain that discrepancy.’

It comes after a Google executive, Matt Brittin, a vice-president of the search firm, was grilled by MPs yesterday for the second time.
The controversy is fuelled by Amazon, like many multinational businesses, using a complex and legal corporate structure to minimise the amount of tax it pays.




Questions: Amazon employs thousands of people in the UK warehouses but, for accounting purposes, is registered in Luxembourg


It claims the heart of its European operations are in Luxembourg, although it employs just 500 people and has no warehouses in the small European nation.

By comparison, its UK operation is gigantic, employing around 4,200 staff as well as thousands of extra seasonal workers during the busy Christmas trading period.

In a further blow for taxpayers, it also receives Government grants and money from the European Union for operating warehouses in less prosperous parts of the country.
Last year, it received grants totalling £2.5million.


When a sale is made in the UK, the item, such as a book or a DVD, is delivered from a British warehouse by Amazon’s UK employees.
But, for accounting purposes, the transaction is processed in Luxembourg.
By comparison, the well-known London bookshop, Foyles, states clearly in its latest accounts: ‘All sales were made in the United Kingdom.’

An Amazon spokesman said: ‘Amazon pays all applicable taxes in every jurisdiction that it operates within.
‘We have a single European headquarters in Luxembourg with hundreds of employees to manage this complex operation.’

A spokesman for HM Revenue and Customs said: ‘HMRC ensures that multinationals pay the tax due in accordance with UK tax law and in doing so we apply the permanent establishment rules correctly and consistently to all businesses.
‘We have been very successful in reducing tax avoidance by large businesses in recent years.’
END


& This is maybe how Amazon & Google do it:




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