Amazon: Luxembourg tax benefits illegal, EU says.
(CercleFinance.com) - Luxembourg has granted undue tax benefits to US online giant Amazon amounting to around 250 million euros, the European Commission concluded today.
In a press release, the Commission points out that the tax benefits are illegal because they allowed Amazon to pay substantially less tax than other businesses.
Luxembourg must now recover the illegal aid, Brussels said.
The European Commission today decided to bring Ireland to the European Court of Justice for failing to recover tax benefits from Apple, which are worth up to 13 billion euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
In a press release, the Commission points out that the tax benefits are illegal because they allowed Amazon to pay substantially less tax than other businesses.
Luxembourg must now recover the illegal aid, Brussels said.
The European Commission today decided to bring Ireland to the European Court of Justice for failing to recover tax benefits from Apple, which are worth up to 13 billion euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.