Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

The EU top court scraps a 250 million euro tax order vs Amazon.

A logo for Amazon Web Services (AWS) is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Picture taken June 23, 2022. REUTERS/Chris Helgren/File Photo
A logo for Amazon Web Services (AWS) is seen at the Collision conference in Toronto, Ontario, Canada... A logo for Amazon Web Services (AWS) is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Picture taken June 23, 2022. REUTERS/Chris Helgren/File Photo
A logo for Amazon Web Services (AWS) is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Picture taken June 23, 2022. REUTERS/Chris Helgren/File Photo
A logo for Amazon Web Services (AWS) is seen at the Collision conference in Toronto, Ontario, Canada... A logo for Amazon Web Services (AWS) is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Picture taken June 23, 2022. REUTERS/Chris Helgren/File Photo

Listen to the article now

The EU top court scraps a 250 million euro tax order vs Amazon. The highest court in Europe overturned an EU judgment that required Amazon (AMZN.O.) to pay back taxes to Luxembourg for 250 million euros ($273 million). This decision was made as part of EU antitrust head Margrethe Vestager’s assault on sweetheart deals between multinational corporations and EU countries.

“The Court of Justice confirms that the European Commission has not established that the tax ruling given to Amazon by Luxembourg was a state aid that was incompatible with the EU’s internal market,” the Court of Justice of the European Union (CJEU), which is situated in Luxembourg, released a statement.

Their choice is irrevocable. We are pleased with the court’s decision, which demonstrates that Amazon complied with all applicable applicable regulations and did not get any preferential treatment. “A spokesperson for Amazon expressed their excitement about continuing to concentrate on delivering for our customers located throughout Europe.”

Chiara Putaturo, an expert on EU taxes for Oxfam, voiced her disapproval of the decision.

“Amazon got an early Christmas present this year, as the company dodged its decade-old tax bill to Luxembourg and can continue to do so,” according to Putaturo.

“Because of this, the European Union has to go forward with genuine tax changes. It may begin by not disregarding the fact that there are tax havens inside its boundaries that enable businesses to avoid paying their taxes by using vacant offices, as she said.

The case is C-457/21 P Commission v. Amazon.com and Others.


Comment Template

You May Also Like

Business

MSG Networks has returned to Optimum after a nearly two-month blackout, restoring Knicks and Rangers coverage for frustrated fans. The new deal places MSG...

Business

Alphabet has introduced **Premium Lite**, a lower-cost YouTube subscription offering ad-free videos (excluding music). This move aims to expand YouTube’s subscriber base and reduce...

Business

India has been named the best solo travel destination for 2025 by Kensington, thanks to its rich culture, history, and diverse experiences. From the...

Business

Warren Buffett's Berkshire Hathaway has aggressively sold stocks, amassing a record $334 billion in cash. Major divestments include Apple and Bank of America, while...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok