Go Back   DreamTeamDownloads1, FTP Help, Movies, Bollywood, Applications, etc. & Mature Sex Forum, Rapidshare, Filefactory, Freakshare, Rapidgator, Turbobit, & More MULTI Filehosts > World News/Sport/Weather > Other Interesting News

Other Interesting News Other News That is Not on World Events

IMPORTANT ANNOUNCEMENT
Hallo to All Members. As you can see we regularly Upgrade our Servers, (Sorry for any Downtime during this). We also have added more Forums to help you with many things and for you to enjoy. We now need you to help us to keep this site up and running. This site works at a loss every month and we appeal to you to donate what you can. If you would like to help us, then please just send a message to any Member of Staff for info on how to do this,,,, & Thank You for Being Members of this site.
Post New ThreadReply
 
LinkBack Thread Tools Display Modes
Old 17-01-15, 17:22   #1
 
Ladybbird's Avatar
 
Join Date: Feb 2011
Posts: 35,155
Thanks: 23,729
Thanked 12,743 Times in 8,577 Posts
Ladybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond repute

Awards Showcase
Best Admin Best Admin Gold Medal Gold Medal 
Total Awards: 6

European Union EC Investigate Amazon 'Suspect Tax Deal' with Luxembourg

Amazon: Luxembourg Tax Deal Probably 'State Aid' EC Says



Amazon's tax deal with Luxembourg was struck in 2003

BBC 17 Jan 2015


The European Commission has disclosed a preliminary finding that Amazon's tax arrangements in Luxembourg probably constitute "state aid".



The EC's doubts about the arrangement were detailed in a document on Friday.

The EC said that its "preliminary view is that the tax ruling... by Luxembourg in favour of Amazon constitutes state aid."

However, Amazon said it "has received no special tax treatment from Luxembourg".

"We are subject to the same tax laws as other companies operating here [in Luxembourg]," it said.

The Luxembourg finance ministry said: "Luxembourg is confident that the state aid allegations in this case are without merit and will be able to convince the Commission of the legitimacy of the anticipatory decision in question and that no competitive advantage was granted," it said.


Doubts

The European Commission began a probe of the tax arrangement last year, saying that it had suspicions it broke EU rules.

The Commission document, which was sent to the Luxembourg Ministry of Foreign Affairs in October, gives its rationale for launching the investigation.

The Commission said it had "no indication" that the tax arrangement was "compatible with the internal market".

The current European Commission chief, Jean-Claude Juncker, was prime minister of Luxembourg when the deal was struck.

Mr Juncker has come under pressure over claims that around 340 global companies were granted tax avoidance deals during his 18 year tenure in Luxembourg.

Commission doubts over the Amazon deal included whether Luxembourg had properly looked into Amazon's "transfer pricing" proposals about how money would be moved between different Amazon subsidiaries.

Doubts also existed about whether the country had assessed that the proposed tax regime was in line with market conditions before agreeing the deal in 2003, the European Commission document said.


Payment Calculations

The Commission also had questions about how royalty payments between certain Amazon companies were calculated, and whether "Amazon has a financial incentive to exaggerate the amount of the royalty" between its Luxembourg head office company and an Amazon firm that holds shares in the head office company.

"If the royalty is exaggerated, it would unduly reduce the tax paid by Amazon in Luxembourg by shifting profits to an untaxed entity from the perspective of corporate taxation," the EC said.

It added that Luxembourg might have been too hasty in assessing Amazon's requested arrangement before striking the deal.

Luxembourg's finance ministry said it "has provided all the information required by the Commission and cooperated fully with the Commission in its investigation."

"Among other things, detailed reports on the transfer price requested by the Commission were disclosed," it added.

Luxembourg is also being investigated by the Commission over suspected "sweetheart" tax deals with the financing arm of carmaker Fiat.

In addition, Ireland's tax deal with Apple and the Netherlands' arrangement with Starbucks are being scrutinised as part of a crackdown on multinationals' tax avoidance schemes.
.
__________________
Nil Carborundum Illegitemi My Advice is Free My Friendship is Priceless

FREEBIES Continue to be a BURDEN on Our Increasing Server/Privacy Costs. Please DONATE Something to HELP...PM an Admin for Further Info.



& Thanks to Those That Have Taken The Time to Register & Become a Member of ... 1...
Ladybbird is online now  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
Reply With Quote
Post New ThreadReply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2019, vBulletin Solutions Inc.
SEO by vBSEO 3.5.2
Designed by: vBSkinworks