Skip to comments.France hits Amazon with $252 million tax claim
Posted on 11/13/2012 3:46:55 AM PST by DeaconBenjamin
Online retailer Amazon said on Monday that French tax authorities had slapped the company with a $252 million claim for back taxes, interest and penalties. Amazon has said it will "vigorously contest" the assessment.
Internet retailer Amazon said it had received a $252 million demand from the French tax authorities for back taxes, interest and penalties in relation to the allocation of income between foreign jurisdictions.
The claim comes as European countries step up efforts to clamp down on U.S. companies which minimise their tax bills in the continent by chanelling profits through low-tax regimes.
Amazon said it would fight the tax claim, in court if necessary, and that the demand related to the calendar years 2006 through 2010.
We disagree with the proposed assessment and intend to vigorously contest it, the company said in its third quarter results filed last month.
An Amazon official referred to the tax demand, which had not been previously widely reported, at a UK parliamentary committee hearing.
Amazon minimises its tax bill in France and other European countries by channeling sales through Luxembourg, which offers tax breaks to foreign companies which base themselves there.
Amazon said it received a proposed tax assessment from the tax authority in September but that it was still awaiting a final assessment.
Internet group Google is also under audit by the French tax authority regarding its structure, which channels sales through Ireland, but the company denied a newspaper report last month that it had received a back tax claim for 1 billion euros.
“That is how the site identifies the date of the story. “
That’s euro format with day before the month
AMAZON CEO Jeff Bezos gave $1 Million in support of same sex marriage which was approved by voters in his home state of Washington.
I’m glad he is losing money, I won’t buy from him.
When liberals tax liberals.
SO rather than support a corporation whose CEO spends his personal funds in a way you disapprove of, you'd rather se a government (particularly France) get their slimy greedy hands on it? Isn't that doing exactly what the militant
fags gays did with Chick Filet? Frankly I'd rather see the money go up a wild hog's a$$ than any government get their hands on it.
No honour among thieves.
Nah this Obama supporter can get what he deserves. These dummies support socialism when they support Obama. Even talk about “Yes I do think rich should pay more..”
Yes, but the money isn't coming from Bezos' pocket. You are aware that Amazon is a publicly held company (symbol AMZN)? And are you aware that $250,000,000 won't really affect Bezos who has more money than he can spend anyway, but rather his shareholders, not all of whom are the rich 0bama supporters that you seem to think they are? And are you aware that this extortion if successful will transfer $250,000,000 from the private setor where it will actually meet peoples' needs to the government sector where it will simply be squandered on what politicians think will buy them the most influence?
I know. I figured if I didn’t say anything, I would receive a half dozen comments congratulating me on knowing the future.
Leave the Razorbacks out of this. They are having a bad year already.
Will the money go to help the people. You bet it won’t.
Who cares. People can take your money if it is going to “help” others? Who defines help?
Didn’t France already get a VAT tax on every product sold by Amazon?
Now they want more?
Just found out from a friend in UK, the VAT taxes services too. What a monster.
I predict within the next 24 months, the “progressive’s” will try to push for a US VAT tax (along with what is already in place).
This tax is the Holy Grail for liberals — it feeds a monster size government.
But here's the rub with a Vat tax: it effects EVERYONE.
The Dems will not be talking about that small detail...
Amazon also pays very little in US Corporate income tax, I beleive less than 3 or 4% because of all of the loopholes they use and keeping a lot of their profits offshore - so yes, I would rather see them have to pay their money to another government.
You know what I mean. The money will be redistributed into the pockets of the government and those that help them.
Tell me do you think that this is a good thing or a bad thing? Do you think taxation of corporate profits is good or bad?
I would rather see them have to pay their money to another government
so you would rather see greedy politicians enriched at the expense of others than see those investors who risked their hard earned savings by investing in Amazon stock profit?
I think there should be very low or no corporate income tax, but Amazon has created loopholes through crony connections in the government and with that has also created unnatural competition.
If investors loose their money by investing in a company like Amazon, then that’s their choice.
Amazon openly supports gay marriage, has allowed pedophiles to publish “How To” books through their online publishing services encouraging & teaching pedophiles, has created unnatural competition through crony capitalism and pay very little, if any taxes to the country they are trying to destroy.
So for the last time, my answer is YES - I hope they loose money and if it is to France, so be it - Amazon wants this country to be France anyway.
What’s the French for “Gimme Maey MONEE!”