Amazon had sales income of €44bn in Europe in 2020 but paid no corporation tax

Found on The Guardian on Monday, 24 May 2021
Browse Various

Accounts for Amazon EU Sarl, through which it sells products to hundreds of millions of households in the UK and across Europe, show that despite collecting record income, the Luxembourg unit made a €1.2bn loss and therefore paid no tax.

In fact the unit was granted €56m in tax credits it can use to offset any future tax bills should it turn a profit. The company has €2.7bn worth of carried forward losses stored up, which can be used against any tax payable on future profits.

Let's see a politician trying to explain how this is supposed to be fair to everybody else.