Toy market news

Amazon paid no taxes in Europe in 2021

There is a huge gap between Amazon's sales and earnings for 2021 - at least if you look specifically at its European business. The online giant was able to increase sales in Europe by a significant 17 percent and present a value of 51 billion euros. Nevertheless, the bottom line for Europe was a loss of 1.2 billion euros.

This has serious consequences: For the entire past year, the Luxembourg-based Amazon EU Sàrl did not pay taxes on the profit due to the lack of profit within the EU. This is reported by Bloomberg. The figures refer to the markets of Germany, France, Italy and Spain, as well as the Netherlands, the UK, Sweden and Poland, where the company operates. However, Amazon has received tax credits that can be applied to future profits, it adds.

"We are investing massively in job creation and infrastructure across Europe - more than 100 billion euros since 2010," a company spokesman is quoted as saying. "Corporate tax is based on profits, not revenues, and last year Amazon EU Sàrl made a loss while we opened more than 50 new sites across Europe and created more than 65,000 well-paying jobs, bringing our total permanent workforce in Europe to more than 200,000."