On Wednesday, Margrethe Vestager, the European Union’s competition commissioner, ordered Luxembourg to collect around 250 million euros, or about $293 million, in unpaid taxes from Amazon. The ruling was tied to an agreement between the country and the company that the European Commission, the bloc’s executive arm, said dated to 2003. The order resembles a similar move the commission made last year, when it directed Ireland to reclaim around $15.2 billion from Apple. It is not illegal in the European Union for member states to attempt to lure businesses by lowering corporate tax rates. The European Commission published proposals last month under which internet companies would be taxed in the countries where they generated revenue.

Source: New York Times October 04, 2017 09:48 UTC