European Union hits Amazon with "huge bill over back taxes"

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European Union hits Amazon with "huge bill over back taxes"

Oct 04 2017

Amazon must pay €250m in back taxes after the European Commission judged the company had enjoyed tax benefits in Luxembourg which were illegal under EU state aid rules.

The EC member in charge of competition, Margarethe Vestager, said in a press conference this morning that Amazon’s tax benefits in Luxembourg had reduced its tax bill over eight years from May 2006 to June 2014. Amazon must now repay that tax benefit, €250m plus interest, within four months.

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