Amazon Europe received €241m in tax credits in 2018 | Technology | The Guardian
▻https://www.theguardian.com/technology/2019/sep/09/amazon-europe-received-241m-in-tax-credits-in-2018
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Amazon received €241m in tax credits last year that it can deduct from future bills for its European business, despite efforts by authorities in Brussels to ensure the company pays more tax.
Amazon Europe, which is based in Luxembourg and aggregates the billions of pounds of sales the retailer makes from individual countries across the continent, received the credits after reporting a pre-tax loss of €493m in 2018. Sales rose 11.6% to €28bn.
The company, which is being pursued by the European commission for more than €250m over “illegal tax advantages” in Luxembourg, said it made the loss after investing more than €7.4bn in new fulfilment centres, head offices and services for customers across Europe. Amazon Europe also paid out €114.3bn in licence and royalty payments, partly to affiliated businesses. Tax campaigners suggest such payments help reduce profits and tax payments in particular territories.