EU Court overturns Amazon’s fine for tax evasion – Kommersant
[ad_1]
The European Court of Justice has sided with Amazon in its tax evasion dispute with the European Commission. Thus, the American corporation is finally released from the obligation to pay €250 million to the European authorities.
The European Commission decided to fine Amazon back in 2017. In the EC claimed, that due to illegal tax breaks, almost three-quarters of the profits earned by the American company in Europe were withdrawn from taxation. Amazon filed an appeal to the European Court of General Jurisdiction, which in May 2021 carried out decision in favor of the company.
The court noted that the European Commission could not prove an “illegal reduction in the tax burden” for the Luxembourg division of Amazon. It was not proven “that Luxembourg’s taxation of Amazon was a form of state aid that would be contrary to the rules of the internal market” of the European Union.
“We welcome the court’s decision, which confirms that Amazon complied with all applicable laws and received no special treatment. We look forward to continuing to deliver to our customers across Europe,” an Amazon spokesperson said.
[ad_2]
Source link
