Report: EU to order Amazon to pay millions in back taxes

Report: EU to order Amazon to pay millions in back taxes
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The European Union will order Amazon to pay several hundred million euros in back taxes on Wednesday, The Financial Times reported on Tuesday.

The EU’s enforcement arm, the European Commission, opened up an investigation three years ago into a partnership between Amazon and Luxembourg that allowed the e-commerce giant to shield some of its assets from taxation.

The Financial Times report did not say how much Amazon will be ordered to pay.

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The fine would be the latest action Europe has taken to try to rein in American tech giants.

In a similar move last year, the EU ordered Apple to pay 13 billion euros in back taxes. The company allegedly benefited improperly from tax laws in Ireland.

And in June, Google was hit with a record 2.4 billion euro antitrust fine for promoting its own comparison shopping service in its search results.

Amazon did not immediately respond when asked for comment.