Web giant Amazon paid £7.4m corporation tax in the UK in 2016
- Credit: PA
Internet giant Amazon saw a 50% fall in the amount of UK corporation tax it paid last year while it saw a 54% increase in turnover in the same period.
Accounts filed by Amazon UK Services, which has a distribution centre in Norwich, show the company was billed £15.8m in 2015 compared with £7.4m in 2016.
In the same period, turnover at Amazon UK Services broke the £1bn barrier for the first time, climbing from £946m to £1.46bn while profit before tax fell from £48.5m to £24.2m.
The company's tax bill has been described by one MP as 'peanuts'.
Conservative Charlie Elphicke told The Sun: 'People will say it's high time Amazon paid their fair share.'
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The company has said it meets all tax obligations in the UK and every other country in which it operates.
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