Amazon slams $265 million tax order as it seeks to get EU appeal thrown out,An EU decision ordering Amazon to pay about 250 million euros ($265 million) in back taxes to Luxembourg relies on "atmospherics" and is without merit, the company said on Thursday, as it sought to convince Europe's top court to throw out an appeal by EU regulators. The European Commission in its 2017 decision said a Luxembourg tax arrangement allowing Amazon to channel profits to a holding company tax-free meant it paid no taxes on almost three-quarters of its profits from EU operations, in essence amounting to illegal state aid. The U.S. online retailer challenged the EU tax order in a lower tribunal, convincing it to scrap it in 2021, in a setback to competition chief Margrethe Vestager's crackdown on preferential deals.
Amazon slams $265 million tax order as it seeks to get EU appeal thrown out
An EU decision ordering Amazon to pay about 250 million euros ($265 million) in back taxes to Luxembourg relies on "atmospherics" and is without merit, the company said on Thursday, as it sought to convince Europe's top court to throw out an appeal by EU regulators. The European Commission in its 2017 decision said a Luxembourg tax arrangement allowing Amazon to channel profits to a holding company tax-free meant it paid no taxes on almost three-quarters of its profits from EU operations, in essence amounting to illegal state aid. The U.S. online retailer challenged the EU tax order in a lower tribunal, convincing it to scrap it in 2021, in a setback to competition chief Margrethe Vestager's crackdown on preferential deals.
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