Amazon to Face EU Investigation Over Luxembourg Tax Deal
The European Commission is set to begin a formal probe into allegations that Luxembourg allowed Amazon.com Inc to benefit illegally from state subsidies for its European operations for almost 10 years, the Financial Times reported on Monday.
The investigation relates to favorable terms given to Amazon under a 2003 tax ruling, which cap its tax exposure to the Grand Duchy and limit the overall cost to less than 1 percent of the company's European income, the FT reported, citing people familiar with the case.
The commission contends that Luxembourg permitted Amazon to misallocate gains
- Places:
- Europe
- LUXEMBOURG
- U.S.
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