Home EC orders Amazon to pay EUR 250 mln in back taxes
 

Keywords :   


EC orders Amazon to pay EUR 250 mln in back taxes

2017-10-04 12:54:00| Telecompaper Headlines

(Telecompaper) The European Commission has ordered Amazon to pay back EUR 250 million in unpaid takes after ruling that it benefited from illegal state aid from Luxembourg. The decision, which confirms recent reports, follows a three-year probe into tax arrangements between the US online retailer and Luxembourg, with the European Commission having already ruled that the 2003 sweetheart deal "constituted state aid". In a statement, EU competition commissioner Margrethe Vestager said Luxembourg's "illegal tax advantages to Amazon" had allowed almost three-quarters of the company's profits to go untaxed, meaning it paid four times less tax than rival local companies.

Tags: back pay eur orders

Category:Telecommunications

Latest from this category

All news

»
02.11Tropical Depression Thirteen-E Graphics
02.11Summary for Tropical Depression Thirteen-E (EP3/EP132024)
02.11Fragrancing Spaces with Atmos, A Smart Home Diffuser
02.11Eastern North Pacific Tropical Weather Outlook
02.11Atlantic Tropical Weather Outlook
01.11Tropical Depression Thirteen-E Forecast Discussion Number 1
01.11Tropical Depression Thirteen-E Graphics
01.11Tropical Depression Thirteen-E Wind Speed Probabilities Number 1
More »