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European Union will order Amazon to pay back taxes

European Union will order Amazon to pay back taxes

The European Union is contending that Amazon used Luxembourg as a tax haven and that it had established unfair partnerships with the country in an effort to skirt European taxes on 3 billion euros ($3.5 billion) in royalties.

It follows an investigation that echoed Competition Commissioner Margreth Vestager's €13bn Apple tax ruling past year.

The Financial Times report did not say how much Amazon will be ordered to pay.

It comes as Amazon faces the prospect of being hit with a bill that could run to hundreds of millions of euro for back taxes in Luxembourg. Apple is appealing against the ruling.

At the time, Jean-Claude Juncker, the European Commission's president and the chief negotiator on Brexit, was the prime minister of Luxembourg.

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When it launched its investigation in 2015, the European Commission said the European arm of McDonald's had paid virtually no corporation tax in Luxembourg or the USA since 2009, despite making significant profits in the division.

An Amazon spokesperson was not immediately available for comment.

Previously the EC has said that its "preliminary view is that the tax ruling.by Luxembourg in favour of Amazon constitutes state aid". The company allegedly benefited improperly from tax laws in Ireland.

Meanwhile, the European Union is ready to take disciplinary action against Ireland for not collecting a year-old tax bill for as much as $17.6 billion from Apple, said a Bloomberg report.

The EU executive said the proposed changes would reduce the need for a harmonized Value-Added Tax rate policy.


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