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AMZN Amazon.com Inc

185.82
1.10 (0.60%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Amazon.com Inc NASDAQ:AMZN NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.10 0.60% 185.82 185.81 185.87 187.87 185.42 186.99 39,172,159 00:59:53

Amazon Wins $300 Million Tax Battle in EU

12/05/2021 10:51am

Dow Jones News


Amazon.com (NASDAQ:AMZN)
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By Sam Schechner

 

Amazon.com Inc. struck a new blow to the European Union's efforts to wring more tax from big tech companies when the bloc's second highest court sided with the company over a $300 million tax bill.

An EU court in Luxembourg on Wednesday annulled a 2017 decision from the European Commission, the EU's top antitrust authority, that had ordered Amazon to pay 250 million euros ($303.8 million) in taxes to Luxembourg -- the latest of several big EU tax decisions to be overturned.

The decision is a victory for Amazon, and a significant blow to Margrethe Vestager, an executive vice president of the European Commission who is leading a campaign to curb alleged excesses by some of the world's largest tech companies including Amazon, Apple Inc. and Alphabet Inc.'s Google.

 

Write to Sam Schechner at sam.schechner@wsj.com

 

(END) Dow Jones Newswires

May 12, 2021 05:36 ET (09:36 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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