New report follows recent evidence that a Bedford branch of Waterstones pays business rates 17 times higher than a nearby business unit of the web giant
The UK’s bookshops pay 11 times what Amazon does in corporation tax, according to a report from the Centre for Economics and Business Research.
The Bookselling Britain report was unveiled at the Booksellers Association’s annual conference in Birmingham on Tuesday, revealing that bookshops contribute an estimated £540m to the UK economy, and pay an estimated £131m in tax, including £12m in corporation tax. This equates to 91p per £100 of turnover, the report said, which is 11 times the 8p rate that Amazon pays, according to the CEBR. Amazon’s most recent accounts show that Amazon UK Services saw turnover rise to almost £1.5bn in 2016, while corporation tax payments dropped from £15.8m to £7.4m year on year.
Related: Booksellers Association calls for end to Amazon's 'deeply unfair' tax advantages
Continue reading...
0 comments:
Post a Comment