Amazon Has to Fess Up and Tell Us Exactly How Much They Make - in the UK
According to an article on the Bookseller website, Amazon UK’s net sales for 2011 were £2.91bn (around $4.67bn). That’s net. Gross sales would be a lot more.
The UK Parliament’s House of Commons Public Accounts Committee required Amazon to file information on their accounts after allegations appeared in the UK press that Amazon has been actively avoiding paying taxes on its business in the UK. Shame.
The company was also asked to file more information...
...after failing to provide answers to MPs' queries about the structure of the company and its UK sales and profit at an inquiry earlier in the month.
Their published accounts for the same period tell a different story, claiming revenues of only £207m ($331.8m), paying £1.8m in taxes and showing an after-tax profit of £1.2m. Is it me, or is there a discrepancy here?
The part that made me laugh was the tagline to to the supplementary information:
Given the non-public nature of this information, we respectfully request confidential treatment.
Not sure that’s going to happen, but we’ll see. Are you going to buy your Christmas presents from Amazon or are you going to buy local? It certainly doesn’t look like Amazon needs the business.
You can read more about how they distribute their business in the full article.
To leave a comment