Amazon, the US online retailer, has disclosed that its UK corporation tax bill was almost halved to £4.5m ($5.8m) in 2017, down from £7.4m in 2016, despite pre-tax profits in the country tripling from £24m in 2016 to £72m last year. The figures were reported by Amazon UK Services, the logistics and warehouse operation that employs more than two-thirds of the company's UK workforce. In 2016, Amazon received a £1.3m tax credit from UK authorities. In 2017, the firm paid £1.7m tax on its profits. Earlier this week, Amazon posted a record £1.9bn profit in its most recent quarter.
Amazon, the US online retailer, has disclosed that its UK corporation tax bill was almost halved to £4.5m ($5.8m) in 2017, down from £7.4m in 2016, despite pre-tax profits in the country tripling from £24m in 2016 to £72m last year. The figures were reported by Amazon UK Services, the logistics and warehouse operation that employs over two-thirds of the company's UK workforce. In 2016, Amazon received a £1.3m tax credit from UK authorities. In 2017, the firm paid £1.7m tax on its profits. Earlier this week, Amazon posted a record £1.9bn profit in its most recent quarter.