Amazon founder Jeff Bezos is now one of the richest people in the world. So why is his company skimping on its taxes?
The corporation is becoming just as notorious around the world for tax-avoidance as it is for bookselling.
Amazon is part of a group of multinationals that exploit complex international laws to pay less tax -- leading to underfunding of education, healthcare, infrastructure and other vital services that we all rely on. It’s time we stood up to them.
Right now, Amazon isn’t holding up its end of the bargain. But if tens of thousands of its workers, customers and shareholders come together to hold the corporation to account, we can force it to change its ways.
Amazon: stop skimping and pay your taxes!
Amazon saw its UK turnover increase 54% last year to £1.34 billion. The company reported £53.5 million in UK sales through its Luxembourg headquarters -- but its US filings reveal total revenues hit £7.3bn last year.
It’s not just in the UK that Amazon isn’t paying its taxes: accounts reveal the firm paid just £15 million on revenues of almost £20 billion in the EU.
Something doesn’t add up.
Oxfam’s head of inequality Ana Arendar said: “[Widespread] corporate tax avoidance continues to cost both rich and poor countries billions every year that could pay for schools and lifesaving healthcare. We urgently need comprehensive public country-by-country reporting for multinationals to ensure they pay their fair share of tax.”
If everyone had the same selfish attitude as Amazon, the whole tax system -- and the infrastructure Amazon rely on to operate -- would collapse. It’s time for Amazon to do the right thing.
Time and again, SumOfUs members have stood up to Amazon -- whether they’re avoiding taxes, funding hate speech, or stopping workers from unionising, SumOfUs members like you have let Amazon know what you think.
It’s so important we hold the corporation to account on this issue. If a giant like Amazon can’t get away with it, it will help set a precedent and send a message to other companies to pay up.
Amazon: running a business is a two way street -- pay your fair share of taxes!
More information
Daily Mail. 11 August 2017.
The Guardian. 10 August 2017.