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Amazon wins $270 million tax fight with the EU - TL;DR CNBC

Amazon wins $270 million tax fight with the EU

Publishing timestamp: 2023-12-14 07:49:54


Summary

The European Court of Justice has sided with Amazon in a case where the European Commission accused the company of receiving illegal tax benefits. The court stated that the Commission had not proven that the tax agreement between Amazon and Luxembourg was incompatible with the internal market. This decision is seen as a blow to the EU's competition chief and follows similar cases involving Apple and Ireland.


Sentiment: NEUTRAL

Tickers: AMZNAAPL

Keywords: business newsapple inctechnologyinternetluxembourgretail industryunited statesamazon.com inctaxes

Source: https://www.cnbc.com/2023/12/14/amazon-wins-270-million-tax-fight-with-the-eu.html


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