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Now Amazon embroiled in EU tax probe

  • @ukmoneyguru

Amazon is under threat of being subjected to a fresh tax inquiry, it has been reported. The online retail giant has been dogged by controversy over its UK tax affairs and is now said to be in the sights of European regulators.

The European Competition Commission has written to authorities in low tax EU member countries including Luxembourg, the Netherlands and Ireland seeking details of tax agreements struck with companies basing their offices there, including Amazon. Under EU rules, countries can set their own taxes but must offer equal tax treatment to all firms. 

Amazon, which is also being investigated by the French taxman, has been criticised for diverting profits made in the UK through low tax Luxembourg.

However, there is no suggestion that the firm has engaged in anything untoward or illegal.