Amazon had sales income of €44bn in Europe in 2020 but paid no corporation tax
by Rupert Neate Wealth correspondent from Technology | The Guardian on (#5HD7C)
Despite lockdown surge the firm's Luxembourg unit made a 1.2bn loss and therefore paid zero corporation tax
Fresh questions have been raised over Amazon's tax planning after its latest corporate filings in Luxembourg revealed that the company collected record sales income of 44bn (38bn) in Europe last year but did not have to pay any corporation tax to the Grand Duchy.
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.
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