As the Guardian reports, Amazon is going to pay UK tax:
Amazon has become the first technology company to abandon controversial corporate structures that divert sales and profits away from UK in the face of a clampdown imposed by George Osborne.
George Osborne is going to claim this is because of his Diverted Profits Tax.
I argue it is because of EU investigations and the OECD's BEPS programme.
And the truth is we will never know for sure.
But what we can say is that this would not have happened without:
- The tax justice movement
- UK Uncut
- Union backed campaigns
- Margaret Hodge
- Investigative journalism
- We still need a proper general anti-avoidance principle to beat this type of abuse for good, because that would be much better than the diverted profits tax
- Full country-by-country reporting on public record
- The completion and implementation of the BEPS project
- Total reform of corporation tax internationally, including a unitary tax base