Morrisons finance chief Richard Pennycook wades into tax row

Pennycook, chief financial officer at the grocer, has called for the Chancellor to review  rules to stop foreign rivals from gaining an unfair competitive advantage.

He told Sky: “We want a level playing field. What applies to one company should apply to another. There are big differentials in what companies are paying.”

He added: “The Chancellor must look into this and regulate. Taxes on activity here in the UK should stay here. Transparency is very important.”

Meanwhile, Sainsbury’s chief executive King called on Britons to use “wallet power” to make their feelings clear. Their comments echo the sentiments of John Lewis managing director Andy Street and Dixons chief executive Seb James.

The move comes after Amazon disclosed its UK sales and profits for the first time this week. In written evidence submitted to a select committee on corporation tax revealed it took £3.35bn in UK sales in 2011, recording a pre-tax profit of £74m.

The figures reveal that 45% of Amazon’s European income is from the UK with 40% coming from Amazon.co.uk at £2.9bn in sales and a further £441m from other UK businesses including Lovefilm.

The company also reported the amount of VAT it brought in for the UK Government at £416m in 2011.