Amazon.com must pay nearly $300 million in back taxes to Luxembourg, European authorities said Wednesday after concluding the tech giant benefited from an illegal tax arrangement dating to 2003.
The company, which is being fined following a three-year investigation, is the latest in a string of U.S. technology firms to face tax-related penalties in the E.U. An Amazon spokeswoman said the company is considering an appeal. (Jeff Bezos, chief executive of Amazon, also owns The Washington Post.)
According to the European Union, Amazon put “the vast majority” of its profits in a Luxembourg-based holding company, which allowed the company to avoid paying taxes on the bulk of its European profits between 2006 and 2014.
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.