Don't miss

Replay


LATEST SHOWS

IN THE PRESS

Carlos Ghosn arrest: The fall from grace of a 'workaholic'

Read more

BUSINESS DAILY

French government calls for interim leadership to replace Ghosn at Renault

Read more

EYE ON AFRICA

Nigerian opposition leader Atiku Abubakar launches presidential campaign

Read more

MEDIAWATCH

Social media drives 'yellow vest' protests

Read more

THE DEBATE

Road rage: French 'yellow vests' movement protests fuel prices

Read more

FOCUS

Indian Railways hiring! World's largest recruitment drive now underway

Read more

ENCORE!

Music show: Serpentwithfeet on reinventing gospel with complex visions of gay black love

Read more

IN THE PRESS

Cubic poop: Scientists crack mystery of wombats' square-shaped faeces

Read more

THE INTERVIEW

Truth is the first casualty: The war on journalism and facts

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)