The European Union (EU), world's largest internet shopping company Amazon, issued 250 million euros in debt due to tax applications in Luxembourg.
The EU Commission has completed years of investigation into taxation of Amazon's companies in Luxembourg. The EU Commission demanded that he pay back to Luxembourg with interest in 250 m-euro tax backward from Amazon.
- "The tax practices that Amazon took advantage of in Luxembourg were illegal according to EU rules," said Margre Vestager, a member of EU Commission for Competitiveness, who organised a press conference in Brussels.
"In Luxembourg, company took advantage of Amazon company in period between 2003-2011 and 3 of its profits from one company to anor," Vestager reminded that current rules are not new. It's against rules and it's illegal. In question, 250 million euros should be repaid with interest, "he said.
He said that Amazon founded two companies in Luxembourg, that a company is operational and that it operates company's activities within EU, Vestager, 2. The company told us what office was and what employees were only collecting royalties from revenues.Ad
- Vestager, investigation concluded that level of royalties between Amazon's companies does not reflect economic reality, that tax application in Luxembourg provides a selective economic advantage to Amazon Said y had arrived.
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