Amazon halved its UK corporation tax bill despite tripling profits

Amazon Services profits tripled in the UK last year. But, despite this, it has managed to halve its UK corporation tax bill. 

Per figures posted publicly on Companies House, Amazon's corporation tax bill was £4.5m last year, down from £7.4m the previous year. Its profits, meanwhile, tripled from from £24m in 2016 to £72m in 2017. 

The company has paid £1.7m of its bill, but it has deferred paying the remaining £2.9m. An Amazon UK spokesperson declined to comment on why it was deferring. 

These figures come just days after Amazon announced record profits of $2.5bn (£1.9bn) in the second quarter of 2018.  Read more...