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Article

3 Jul 2014

Author:
International Business Times

Amazon Under EU Spotlight for Luxembourg Tax Affairs

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Amazon's Luxembourg-located tax affairs are under the scrutiny of the EU's Competition Commission as regulators and lawmakers in the bloc widen an investigation into tax avoidance strategies carried on at the European headquarters of big companies...Amazon looks likely to join Apple, Starbucks and Fiat Finance and Trade, all of which are under investigation...Amazon was shown to have funnelled about £11bn through its Luxembourg-based subsidiary in 2013, yet paid only £4 million in UK corporation tax last year - 0.1% of the £4.3bn in sales that the company generated in the UK last year. The internet giant even claimed a £4m tax rebate from the Luxembourg Government.