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Amazon only paid £1.8m in corporation tax in 2011 despite raking in £3.35bn in UK salesReuters
European lawmakers are investigating the online auction group for aggressive tax avoidance after claiming eBay avoided $1bn in corporate tax payments to the UK and Germany. The firm paid just a little over £1m in tax despite generating sales of almost £800m in this country.Reuters
Cigarettes and tobacco giant made £4.9bn in profit but pay absolutely nothing in UK corporation tax. The chief executive Nicandro Durante said: 'Our market share in the UK is 7% and any profit we make through our UK subsidiary is cancelled out once operating costs are taken into account.'Reuters
Britain’s major sugar and sweeteners maker made £379m but paid sweet nothing in UK tax payments. The chief executive Javed Ahmed said: 'Tate & Lyle has minimal revenue generating operations in the UK.'Reuters
Although the mining giant is one of India’s highest taxpayers, Vedanta Resources did not pay a penny in UK corporation tax, despite making £1.1bn in profits.Reuters
Npower only recently admitted it paid no UK corporation tax between 2009 and 2011, and justified the non-payment by saying it invested billions of pounds into building infrastructure and power plants which resulted in employment creation for Britain.RWE npower
The thorny topic of tax avoidance has hit the headlines again after the Public Accounts Committee attacked HMRC for its incestuous relationship with accountancy giants that help businesses navigate through schemes and loopholes.
In light of the damning PAC report, IBTimes UK decided to take a look at some of the biggest brands that make billions in sales each year in the UK, yet pay little or no tax at all.
UK Tax Avoidance: Hypocritical Consumers Still Drinking at Starbucks and Shopping on Amazon
UK Parliament Accuses HMRC of 'Unhealthily Cosy' Relationship with Tax Avoidance Accountants
UK Tax Avoidance: HMRC Spots £1bn in Potential Unpaid Big Business Tax
Starbucks, Google and Amazon to Face Legislators' Probe Over Tax Avoidance