Don't miss

Replay


LATEST SHOWS

IN THE PRESS

'Shut Up and Drive': Saudi's paradoxical message after women's rights activists arrested

Read more

EYE ON AFRICA

Burundi approves new constitution allowing president to extend time in power

Read more

THE DEBATE

Populist takeover: Italy approves unprecedented coalition

Read more

FOCUS

Young Nicaraguans lead protests against President Ortega

Read more

ENCORE!

Music show: Opera singer Lawrence Brownlee, Snow Patrol & Natalie Prass

Read more

TALKING EUROPE

EU Commissioner Johannes Hahn: 'Either we import stability, or we export instability'

Read more

TALKING EUROPE

From Italy to Cyprus via Hungary: A look back at key events in Europe

Read more

BUSINESS DAILY

US-China trade war is 'on hold'

Read more

#TECH 24

Is GDPR a good thing for EU tech companies?

Read more

France

Amazon announces major French tax deal, agrees to report all income locally

© Loic Venance, AFP | US online shopping giant Amazon on February 5, 2018 announced it had struck a major deal with the French government to settle nearly 200 million euros ($249 million) in unpaid taxes.

Text by NEWS WIRES

Latest update : 2018-02-05

US online shopping giant Amazon on Monday announced it had settled a major tax claim in France and agreed to report all its French income locally in future.

Amazon, one of the US tech giants accused of paying too little tax in Europe, said the deal related to a French claim for nearly 200 million euros ($249 million) covering the period from 2006 to 2010.

It did not say how much it paid to end the dispute, saying only that it had reached an overall agreement with tax authorities and would now report all the turnover and profit from its French activities in France.

French tax authorities refused to comment on the settlement, saying it was a secret matter.

Amazon is one of the digital economy giants that minimise their tax bill in Europe by routing their income through low-tax nations -- in Amazon's case, Luxembourg.

In 2012, it revealed that it had been hit with a 198-million-euro bill by France for back taxes, interests and penalties relating to income spread between different jurisdictions.

At the time, the company had said it disagreed with the French assessment and vowed to "vigorously" fight it.

(AFP)

Date created : 2018-02-05

COMMENT(S)