Amazon is ordered to pay nearly $300 million by EU over ‘illegal tax advantage’

Amazon plays a crony game and this is part of playing that game.

The EU officials are just trying to shake down Amazon but Amazon has made its own bed.

Don’t worry however, this is only half of what the CIA reportedly pays Amazon to use Amazon’s servers. Amazon will be OK. It’ll get by.

(From CNBC)

Amazon was ordered to pay 250 million euros ($294 million) to Luxembourg on Wednesday after the European Commission said the online retailer had received illegal tax benefits.

According to regulators, Amazon received tax advantages between 2006 and 2014 in the country without any “valid justification.”

“Luxembourg gave illegal tax benefits to Amazon. As a result, almost three quarters of Amazon’s profits were not taxed,” Margrethe Vestager, the EU’s commissioner for competition, said in a statement.

“In other words, Amazon was allowed to pay four times less tax than other local companies subject to the same national tax rules. This is illegal under EU state aid rules. Member states cannot give selective tax benefits to multinational groups that are not available to others,” she added.

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