The Strategist

EU court cancels Amazon's fine for tax evasion



12/15/2023 - 02:05



Amazon received support from the Court of Justice of the European Union in its disagreement with the European Commission over tax avoidance.



Global Panorama
Global Panorama
As a result, the American company is ultimately liberated from its need to reimburse the European authorities for €250 million.

Back in 2017, the European Commission decided to impose fines on Amazon. The European Commission contended that taxes on over three-quarters of the earnings made by the American company in Europe were left unpaid because of unauthorized tax deductions. After filing an appeal, Amazon was granted a favorable ruling by the European Court of General Jurisdiction.

The European Commission failed to demonstrate "an undue reduction in the tax burden" for Amazon's Luxembourg division, according to the court.

source: bloomberg.com




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