European Union to order Amazon to pay millions in back taxes

EU Amazon gets €250M illegal tax benefits

A report in the Financial Times said that Amazon would face a tax bill of several hundred million euros, although this could not be confirmed by AFP sources on Tuesday.

Online retail giant Amazon will reportedly be slapped with a tax bill worth several hundred million euros following a lengthy European Union investigation into a sweetheart tax deal with Luxembourg.

Amazon is the latest tech giant about to be slapped with a massive fine.

The commission alleged that Amazon shielded its profits from regional taxes by paying royalties inside its own group of companies.

Many came in the wake of the "Luxleaks" scandal which revealed details of tax breaks given by Luxembourg to dozens of major firms.

The EU's enforcement arm, the European Commission, opened up an investigation three years ago into a partnership between Amazon and Luxembourg that allowed the e-commerce giant to shield some of its assets from taxation.

The decision by the commission's powerful antitrust department comes after it slapped Apple with a record €13 billion (£11.5 billion) bill for unpaid Irish taxes past year.

Accordingly, the arrangement may have given the company an unfair advantage over competitors and would therefore be illegal. The iPhone maker is appealing.

If Ireland collects the money, the government is expected to put it an escrow account pending the appeal, which could take five years.

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