taxes news and archive

Amazon told to pay back 222 million pounds in taxes

London - Online giant Amazon has been ordered to repay 250 million euros (222 million pounds) in back taxes after receiving 'undue' subsidies from Luxembourg. The ruling from the European Commission comes after a three-year investigation into Amazon's tax payments, which the commission previously opened in October 2014. The commission has...

Business

Vivienne Westwood accused of hypocrisy for tax avoidance

Dame Vivienne Westwood is used to stirring up controversy with her designs and political viewpoints. However now the designer stands accused of being a hypocrite and a tax avoider, after the recent publication of company accounts found that Dame Westwood's main UK business arm is paying 2 million pounds a year to an offshore company in...

Fashion

Shoppers asked to boycott Amazon in tax row

A boycott of online giant Amazon could soon be called as the company's British arm has reportedly paid just 9.7 million in corporation tax of sales of nearly half a billion pounds. Amazon's revenue rose by 13 percent to a record 4.7 billion pounds. The online retail giant's accounts for Amazon’s UKshows the majority of its sales were processed...

Fashion

Blame the taxes: Mulberry won´t expand in the UK

Those who already signed in for the waiting list to achieve one Tillie or Alexa handbags will have to wait longer as Mulberry CEO has just put off the opening of a second factory in the UK due to the national tax scheme. Godfrey Davis, the chief executive of Mulberry, has had to refuse opening a second factory in Great Britain – there is already...

Fashion

EU must end shoe import tax

Retailers are urging the European Commission to accept that import taxes which have pushed up the price of shoes from China and Vietnam should finally end. The tariffs were originally imposed in 2006, then extended in 2008 at the request of European manufacturers who claimed Chinese and Vietnamese makers were competing unfairly. The tariffs are...