Sep 13, 2018
Church of England to keep Amazon shares despite Welby criticism
The Church of England has said it will keep its shares in Amazon - a day after the Archbishop of Canterbury said the firm was "Leeching off the taxpayer". The Church Times has revealed Amazon was among the 20 biggest global investments by the Church last year. Amazon has repeatedly said it pays all taxes required in the UK. "Archbishop Justin Welby, in a speech to the Trades Union Congress on Wednesday, said:"When vast companies like Amazon and other online traders, the new industries, can get away with paying almost nothing in tax, there is something wrong with the tax system. The 2017 annual report from the Church Commissioners, which deals with the Church's investments, revealed Amazon Inc was one of its top 20 global equity investments. "A statement from the Church said:"We consider aggressive tax avoidance or abusive tax arrangements to be both a business risk and an ethical issue.
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