After Apple, the EU goes after Amazon for illegal tax benefits
EU vs Big U.S. Tech Companies, part 2.
In a ruling that echoes the Apple one of last year, European competition commissioner Margrethe Vestager has told Amazon that it has to pay around €250 million ($290 million) in back taxes.
That's after an in-depth, three-year-long aid investigation from the Commission concluded Luxembourg gave illegal tax benefits to Amazon of around that sum.
"As a result, almost three quarters of Amazon's profits were not taxed," Vestager said. "In other words, Amazon was allowed to pay four times less tax than other local companies subject to the same national tax rules." Read more...
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After Apple, the EU goes after Amazon for illegal tax benefits
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Wednesday, October 04, 2017
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