Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Amazon.com Inc. saw its 2017 UK corporation tax bill almost halved despite a near-trebling of profits

% of readers think this story is Fact. Add your two cents.


Amazon.com Inc. (NASDAQ:AMZN)  revealed on Thursday that its UK corporation tax bill almost halved to £4.5mln last year, down from £7.4mln in 2016 despite a near-trebling of profits.

The revelation came just days after the US online retail giant posted a record profit of US$2.5bn in its latest quarterly results.

READ: Amazon crushes 2Q analyst earnings estimates but falls short on revenue

In its annual financial filing to Companies House, Amazon said last year it paid only £1.7mln in tax on its profits, having received a credit of £1.3mln from the UK authorities in 2016.

Amazon’s UK operating profit in 2017 increased to £79mln,  up from around £26mln in the previous year.

Amazon Services UK – the division that runs the warehouses that process, package and post deliveries to UK customers – reported turnover as a charge to its US-based parent company, apparently for the cost of delivering products, of £1.98bn in 2017.

The BBC News website reported that one reason for the lower tax bill was a rise in share-based payments for staff.

Amazon Services UK paid out £54.8mln in share awards, compared with £36.7m in 2016, the BBC said. It employs more than two-thirds of the 27,000-strong UK workforce.

Story by ProactiveInvestors


Source: http://www.proactiveinvestors.com/companies/news/202221/amazoncom-inc-saw-its-2017-uk-corporation-tax-bill-almost-halved-despite-a-near-trebling-of-profits-202221.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.