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Page last updated at 10:55 GMT, Thursday, 5 April 2012 11:55 UK

Amazon tax situation 'undermines High Street'

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Is it possible to chalk up billions in UK sales without paying any corporation tax? Last year Amazon sold £3.3bn worth of goods in the UK and allegedly paid no corporation tax - because it is based in Luxembourg. HMRC will not confirm or deny it is looking onto this and Amazon says it "serves tens of millions of customers throughout Europe from a single European headquarters in Luxembourg".

The UK is also subject to taxation in various states and other foreign jurisdictions including China, Germany, Japan, Luxembourg, and the United Kingdom. We are or may be subject to examination by these particular tax authorities.

Tax Research UK's Richard Murphy explains his concerns about the current tax regime.


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