Author: James Vincent
Illustration by Alex Castro / The Verge
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...
Continue reading…
Continue reading...
Illustration by Alex Castro / The Verge
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...
Continue reading…
Continue reading...