European Union, Amazon.Com, Eu Taxes

European Union, Amazon.Com

Amazon wins €$250m court fight in blow to EU tax crusade | Malay Mail

Amazon wins €$250m court fight in blow to EU tax crusade | Malay Mail

12/5/2021 11:12:00 PM

Amazon wins €$250m court fight in blow to EU tax crusade | Malay Mail

BRUSSELS, May 12 — Amazon won its fight against an EU order to pay about €250 million (RM1.2 billion) in back taxes to Luxembourg in a blow to competition chief Margrethe Vestager’s crusade against preferential deals. The setback renewed calls from EU lawmakers for a global corporate tax deal...

Wednesday, 12 May 2021 11:42 PM MYTThe logo of Amazon is seen at the company logistics centre in Boves, France, November 5, 2019. — Reuters picSubscribe to ourTelegramchannel for the latest updates on news you need to know.BRUSSELS, May 12 — Amazon won its fight against an EU order to pay about €250 million (RM1.2 billion) in back taxes to Luxembourg in a blow to competition chief Margrethe Vestager’s crusade against preferential deals.

Chong Wei helps hometown hospital add 32 Covid-19 beds Gyms now allowed to open subject to SOPs, Youth and Sports Minister announces Nelayan ambil masa sejam tangkap buaya | Harian Metro

The setback renewed calls from EU lawmakers for a global corporate tax deal and legal analysts said Vestager was unlikely to give up her pursuit of large companies over the amount of tax they pay.The bloc failed to show that Luxembourg had given the US online retailer special treatment in violation of state aid rules, the EU’s General Court ruled today.

Its ruling follows last year’s landmark defeat for Vestager against Apple, which had contested an order that it pay €13 billion in Irish back taxes.Both Amazon and Apple were targeted by Vestager in a campaign to stamp out tax deals used by EU states, including Luxembourg and the Netherlands, to attract large companies. The Commission views such agreements as unfair.

“The Commission did not prove to the requisite legal standard that there was an undue reduction of the tax burden of a European subsidiary of the Amazon group,” the Luxembourg-based EU judges said.Amazon in a statement welcomed the ruling, saying it was in line with “our long-standing position that we followed all applicable laws and that Amazon received no special treatment”.

The Luxembourg government said the judgment showed the tax deal was not state aid — or an advantage that could distort competition.Vestager said she would examine the ruling before deciding whether to appeal to Europe’s top court.She is unlikely to stop her crusade, said Ioannis Kokkoris, professor of competition law and economics at London-based Queen Mary University of London.

“The future approach of the Commission in state aid cases may be fine-tuned to adjust to the concerns the court identified, but this hiccup is not going to forestall the drive of Vestager in this area,” he said.Win some, lose someIt wasn’t all bad news for Vestager. In a separate case on Wednesday, French utility Engie lost its appeal against an EU order to pay back taxes of 120 million euros to Luxembourg.

But the spotlight was on the Amazon decision, which was criticised by groups campaigning for higher taxes to be levied on multinationals.“Today’s ruling is a blow,” said Chiara Putaturo, a tax expert with Oxfam EU. “It shows again that case-by-case investigations do not solve large-scale tax dodging.”

28 keluarga terjejas akibat tanah runtuh di Kemensah Height | Harian Metro Video 4 tahun lalu, ditularkan semula - Perhilitan | Harian Metro TMJ: Johor Covid-19 task force to improve system used to screen, isolate, monitor and treat patients

The amount at stake in the Amazon decision is tiny compared to the billions of dollars the online retailer earns each quarter, but it could help other companies in their appeals against the bloc’s tax probes.Like Oxfam, EU lawmakers said there was a need for a systematic approach and urged the bloc to back US President Joe Biden’s call for a 21 per cent minimum tax rate on multinationals.

“Such a minimum tax rate would allow member states to reclaim lost tax revenues from Amazon in the future. This would put an end to Luxembourg’s business model as tax haven,” EU lawmaker Sven Giegold said in a statement.“At the same time, public country-by-country reporting must be introduced as soon as possible. Then large corporations will have to disclose their profits and taxes paid per country,” Giegold said.

Vestager’s success in making Belgium, Ireland, Luxembourg and the Netherlands change their tax practices has helped to spur efforts for a global deal. The Organisation for Economic Cooperation and Development (OECD) said last week that the chances of achieving one had never been higher.

Amazon’s Luxembourg-based main European operating subsidiary, Amazon EU Sarl., has not reported a tax charge in any of the last three years, because it reported losses on its €104 billion of revenue, corporate filings lodged with the Luxembourg registry show.

Over the last two decades, Amazon reduced its European taxable profits by having Amazon EU Sarl pay affiliated, tax-exempt partnership fees in return for the use of intellectual property, corporate filings show.Amazon EU Sarl racked uptax credits of almost €600 million

over the 2018-2020 period.The European Commission in its 2017 ruling, knocked down on Wednesday, said Luxembourg spared Amazon from paying taxes on almost three-quarters of its profits from EU operations by allowing it to channel profits to a holding company tax-free.

Soccer - England's Houghton withdraws from World Cup qualifiers with injury Covid-19: Travellers to Langkawi can reschedule flights, hotel accommodations, says Nancy Warga emas ditahan memandu lawan arus | Harian Metro

In its 2018 decision on Engie, the EU said the arrangement with Luxembourg authorities artificially reduced the company’s tax burden, which meant it paid an effective corporate tax rate of 0.3 per cent on certain profits in Luxembourg for about a decade.

The court sided with the Commission, saying the French utility had benefited from a tax advantage.The cases are T-816/17 Luxembourg v Commission & T-318/18 Amazon EU v Commission. — Reuters Read more: Malay Mail »

Covid-19: 19 new clusters reported on Friday (Sept 17), 11 linked to workplaces

PUTRAJAYA: The Health Ministry has identified 19 new Covid-19 clusters, taking the active number to 1,387.

No ‘walk-ins’ allowed at vaccination centres, says Kelantan Health Director | Malay MailKOTA BARU, May 12 — The Kelantan State Health Department (JKNK) today urged members of the public not to gather at vaccination centres in the hope of being inoculated in a ‘walk-in’ manner. Kelantan JKNK director Datuk Dr Zaini Hussin said the commotion that took place at the centre set up at...

Taiwan fights to attend WHO meeting, but China says no | Malay MailTAIPEI, May 11 ― Taiwan will fight to the end for an invitation to a World Health Organisation (WHO) meeting this month, its foreign ministry said yesterday, but China said there was no room for compromise over the island that Beijing claims as its own. The rich-nation Group of Seven (G7) has... WHO takes politics more than public health, countries can collaborate better without it (and will save up a lot of fundings)

Observe new norms of Aidifitri to fight Covid, says Agong | Malay MailKUALA LUMPUR, May 12 — Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah today said that Hari Raya Aidilfitri has to be celebrated in the new norms again this year for the common good and better future of the people and the country in fighting the Covid-19....

EU suing AstraZeneca to get 90 mn vaccine doses before July | Malay MailBRUSSELS, May 11 — The EU executive is suing British-Swedish pharmaceutical group AstraZeneca to force it to deliver 90 million more doses of its Covid-19 vaccine before July, a spokesman said today. “We want the court to order the company to deliver 90 million additional doses, in addition to...

New EU legal case against AstraZeneca over vaccine supplies gets underway | Malay MailBRUSSELS, May 11 ― A second legal case brought by the European Commission against AstraZeneca over its delayed delivery of Covid-19 vaccines got underway in a Brussels court today. Officials familiar with the case said the lawsuit is mostly procedural ― pertaining to the merits of the issue ―...

Australia uses big-spending budget to aid recovery, win over voters | Malay MailSYDNEY, May 11 — Australia promised big spending in a deficit-laden budget today as the conservative leadership sought to sustain an economic recovery from a Covid-19 recession and win support from women and older voters with an eye on the next election. Prime Minister Scott Morrison’s billions...