Boris Johnson to address Amazon’s tax practices

Prime Minister Boris Johnson is set to meet with Amazon founder Jeff Bezos about the BigTech giant’s tax record, according to sources reported by the Financial Times.

The news comes as Boris Johnson is set to travel to the US to meet with US president Joe Biden.

The sources said that taxes for BigTech companies will be an important part of the agenda for the two leader’s meeting.

In April, Biden called out Amazon for not paying federal taxes, claiming it was one of 91 Fortune 500 companies that “use various loopholes where they pay not a single solitary penny in federal income tax.”

Amazon UK revenue increased 50 per cent in 2020 to £20.63 billion, however the firm paid out only £492 million in direct taxes in 2020.

Amazon currently employs more than 55,000 people in the UK, mostly in logistics and warehouse roles.

In July, 130 countries agreed at the OECD in Paris to enforce a minimum corporate tax rate of 15 per cent.

“You can expect the PM to raise this important issue as you know we have been an advocate for an international solution to the tax challenges posed by digitalisation of the economy,” said a Boris Johnson spokesperson as reported by the FT.

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