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ExtraTorrent.cc > Articles > EU Competition Regulator Investigates Amazon Tax Scheme

EU Competition Regulator Investigates Amazon Tax Scheme

EU Competition Regulator Investigates Amazon Tax Scheme

Added: Friday, February 6th, 2015
Category: Recent Headlines Involving File Sharing > Ridiculous Criminal Trials
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, www.extratorrent.cc, 2015
According to the European competition regulators, Amazon’s main EU trading company (which takes up 20% of company’s worldwide sales) has been paying too little tax for the last few years.


amazon_logo_RGB.th.jpg

The competition commission claimed that Amazon EU had been paying inflated royalty fees to another Amazon entity and therefore paid too little tax. Amazon started its business in Luxembourg a decade ago, after securing a private tax ruling from the Grand Duchy. The company made huge sales, but posted comparatively low profits, which consequently resulted in light tax bills. The investigators claim that it was because of the royalty fees paid to another company, Amazon Europe Holding Technologies, also registered in Luxembourg. The latter grants licensing rights for use of Amazon technologies, including its websites, and pays no tax at all because it is established in the form of the partnership, where only the partners themselves can be taxed, but they are in the United States. On the other hand, the partners’ local tax office in the United States cannot tax the partnership’s earnings as long as it remains overseas.

So, Amazon partnership has made profits of €1.93bn in the last 7 years after receiving €3.31bn from other Amazon companies. Moreover, Amazon EU even owes it a significant sum – €2.1bn. As you can understand, hundreds of millions of euros of Amazon income remained completely untaxed and were lost in a mismatch of tax treatments between the United States and Luxembourg.

In the meantime, Amazon points out that the method by which the partnership calculates royalties was sanctioned by a private tax ruling from Luxembourg. Now European competition investigators challenge this ruling, saying that its terms are too generous to Amazon and may equal to illegal state aid.

Another controversial aspect of that tax ruling a decade ago was an effective cap on the amount that could be earned by Amazon EU: only 0.55% of the total turnover. The investigators called this an “effective override”. Like any other online giant investigated by the European Commission, Amazon claimed that it received no special tax treatment from Luxembourg. The Luxembourg government, in its turn, also claimed that the allegations of state aid are unsubstantiated.


By:
SaM
February 6th, 2015

Posted by: 
SaM

Date:  Friday, February 6th, 2015



Comments (4) (please add your comment »)

1
posted by Trusted UploaderSite FriendET loverSupermanTurtle (2015-02-07 00:17:51)
Beolab1700 avatarMake no bones about it Amazon are a repulsive company.. pretty much like all large American corporations.. but guess what? its those self serving morons that you/we vote into power who are to blame. They make the Tax laws, create the loop holes, they set the minimum wage, they allow zero hour contracts.. not Amazon, not Starbucks or McDonald's or Apple.. The EU allowed it to happen one suspects even opened the doors. Yes its morally repugnant what these companies do but its the politicians who are to blame here. So vote with your wallet people.

2
posted by (2015-02-10 21:29:22)
No avatarBeolab why are you so anti American and why are you doing it on so many comment pages, get na life dude, all big companies in the world have a bottom line to make and they all go after it im sure a lot go close to the line, stop putting it on America, at least you got the internet witch the American mility made and also have well the tech that exists today largely due to American companies like Microsoft and apple. Yehm the tax thing is crap I do agree with that but you cant blame a whole country. MacDonald's well I like it, for me that's a treat, its my choice if I eat their food isn't it? Im guessing you've nerer bought a American product or any product from an American company, you never had a MacDonald's? really. And I be you never had a Starbucks, or a coffee from a big coffee company like café nero. your comments are repugnant. but gz. Tell me where your from and ill list a load of companies and what they do wrong there.

3
posted by Trusted UploaderSite FriendET loverSupermanTurtle (2015-02-10 23:19:10)
Beolab1700 avatar@munchy22. I'm not going to outright tell you where I'm from, not on a public torrent page but in my country American companies are in the media for just these type of things. Its something that readers in my country can relate to. Amazon, Starbucks, McDonald's and Apple have all been featured en-mass in the media for TAX evasion. Simple as that... and don't think I don't feel the same way about home grown companies because I do. I choose not to list any. Yes, I've never had a Starbucks or a Café nero because I'm not a pretentious TW@. Yes I've eaten McDonalds in the past.. maybe about 30 years ago when I was 15. Oh and America looks like a lovely country but I've never been.. far to many Americans with an anger complex there :p

4
posted by (2015-02-12 06:29:15)
No avatarall corporations are greedy, they usually have multiple companies operating under various names but all owned by the same shareholders, one company should not be allowed to run under more than one trading name, i got a loan of $1600 from hsbc paid back for a year which i worked out was over $1600 and they say i still own $1600 needless to say i told them i paid it back plus a bit more for there troubles and to stick it where the sun dont shine, so they sold my debt now im harrassed by a company ive never dealt with,selling someones debt what kind of world is this, i read that hsbc were holding monies for terrorists and drug lords and they say im in the wrong..please, 90% of the worlds wealth in the hands on 10% of the population, keep em poor and you control them. p.s i would like to go to america but dont want to get shot by the police or anyone else or stripped search at the airport, they had a starbucks here but the coffee was crap and it shut down lol



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