Re:A bike parts company ditched Amazon to support indie shop...
by cutthegrass2 on Tuesday August 24, 2021 @09:17AM
(#28288446)
Similar story in the UK.
People are sick and tired of Amazon deriving huge profits out of the UK market ($17.5 billion in 2019) and paying just a minuscule amount of tax on those UK sales (£6.3 million in 2019) using a mixture of clever accounting techniques (not available to other businesses) and funnelling profit out via subsidiaries in low tax jurisdictions (Luxembourg).
People are sick and tired of Amazon deriving huge profits out of the UK market ($17.5 billion in 2019) and paying just a minuscule amount of tax on those UK sales (£6.3 million in 2019) using a mixture of clever accounting techniques (not available to other businesses) and funnelling profit out via subsidiaries in low tax jurisdictions (Luxembourg).