May 12, 2021 09:40 am
Original Link: https://www.theverge.com/2021/5/12/22431855/eu-amazon-back-tax-ruling-annulled
Amazons $300 million tax bill rejected by EU judges
Judges from the European Union’s second-highest court have rejected a €250 million ($300 million) tax bill lodged against Amazon in 2017 as part the bloc’s ongoing fight against US tech giants.
The case was one of a number spearheaded by Margrethe Vestager, the European Commissioner for Competition, in which sweetheart tax deals given to powerful corporations have been framed as a form of illegal state subsidy. The most notable of these was a 2016 case in which Apple was ordered to pay Ireland €13 billion ($14.9 billion) in back taxes. This decision was annulled in 2020 by the same court involved in today’s ruling.
The Amazon case can be traced back to 2006, when the e-commerce giant established a labyrinthine tax structure in Europe...
Original Link: https://www.theverge.com/2021/5/12/22431855/eu-amazon-back-tax-ruling-annulled
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