Oct 4, 2017
Amazon has been ordered to pay 250 million euros ($294 million) back to Luxembourg after the European Commission said the online retailer had received illegal tax benefits.
According to the European Commission, Amazon received tax advantages between 2006 and 2014 in the country without any “valid justification.”
“Luxembourg gave illegal tax benefits to Amazon. As a result, almost three quarters of Amazon’s profits were not taxed,” Margrethe Vestager, the EU’s commissioner for competition, said in a statement.
“In other words, Amazon was allowed to pay four times less tax than other local companies subject to the same national tax rules. This is illegal under EU state aid rules. Member states cannot give selective tax benefits to multinational groups that are not available to others,” she added.
This article was posted: Wednesday, October 4, 2017 at 6:42 am