Why is Amazon being given £1million by the taxman? MPs and business owners’ outrage after company receives tax credit despite notching £7billion of sales last year

‘Amazon has received £1.3million back from the taxman – despite annual sales in the UK soaring past £7.3billion.
The internet giant has recently joined an elite group of companies worth more than $500billion (£385billion) but its tax bill in the UK has fallen despite vast growth.
Amazon has embarked on a huge expansion spree, promising to recruit thousands more staff and develop vast new warehouses in the country.
But accounts just filed with Companies House show that its UK Services arm, which used to be known as Amazon.co.uk, received a £1.3million tax credit for 2016.
The sum is not given to the firm as a payment from the Treasury but knocked off future tax bills. The news has enraged MPs and business owners, who are calling on the Government to rethink the way it taxes foreign technology firms.’
Read more: Why is Amazon being given £1m by the taxman? MPs and business owners’ outrage after company receives tax credit despite notching £7billion of sales last year