Debate Magazine

He Needs It as Down-payment on His Yacht.

Posted on the 13 May 2021 by Markwadsworth @Mark_Wadsworth

From The Independent:
In the latest setback to European Union efforts to tackle corporate tax avoidance, a court on Wednesday annulled a ruling by the European Commission that a tax deal between the Luxembourg government and Amazon amounted to illegal state support.

The European Commission ordered the U.S. online retailer in 2017 to pay around 250 million euros ($300 million) in back taxes to Luxembourg. But judges at the EU's General Court said the European Commission didn't prove “to the requisite legal standard that there was an undue reduction of the tax burden of a European subsidiary of the Amazon group."

If I understand correctly, Amazon will get a refund of the $300 million.
Also from The Independent:
Jeff Bezos, Amazon founder and the world’s richest man, will reportedly soon be the owner of a mega-yacht he bought for $500 million, almost double the price he paid to buy the Washington Post newspaper in 2013.
While the details of the vessel have largely been kept under wrap, the 417-foot superyacht is so massive that it has a yacht of its own, along with a helipad, reported Bloomberg.

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