Amazon Hit With $294 Million Bill in EU Tax Crackdown
- Ireland faces lawsuit over Apple’s billions in unpaid tax
- McDonald’s decision is also expected from EU authority soon
Amazon Must Pay $294 Million in EU Tax Crackdown
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Amazon.com Inc. was slapped with a European Union order to pay 250 million euros ($294 million) plus interest in back taxes to Luxembourg as the world’s biggest online retailer became the latest U.S. giant to run afoul of the bloc’s tough rules on government subsidies.
In another attack on sweetheart tax deals that it claims tilt the balance in favor of a select few big businesses, the European Commission chided Luxembourg for allowing the company to cut its taxable profits “to a quarter of what they were in reality.”