If Visa were to leave the e-commerce platform, the impact would be severe, as data from consulting firm Mintel showed that 89% of British consumers shopped on Amazon last year.
Because this issue is related to Brexit, there would also be consequences on the platform around how Amazon structures its business in the UK, as it bills customers in this region through an entity based in the European Union, transferring revenue booked through its in-country website to its European headquarters in Luxembourg.
In this regard, a report revealed that this corporate structure would have allowed Amazon to evade the payment of 8.2 billion pounds sterling in taxes within the United Kingdom in 2019, thanks to the transfer of income to Luxembourg.
Faced with such an investigation, motivated by the Unite union and backed by Labor MP Emma Hardy, the company mentioned that the calculations were “grossly inaccurate and do not include the majority of our business”.