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Special Report: Amazon's billion-dollar tax shield | Reuters

Amazon's Luxembourg arrangements have deprived European governments of hundreds of millions of dollars in tax that it might otherwise have owed, as reported in European newspapers. But a Reuters examination of accounts filed by 25 Amazon units in six countries shows how they also allowed the company to avoid paying more tax in the United States, where the company is based.

In effect, Amazon used inter-company payments to form a tax shield for the group, behind which it has accumulated $2 billion to help finance its expansion.

Amazon revealed last year that the U.S. Internal Revenue Service (IRS) wants $1.5 billion in back taxes. The claim, which Amazon said it would "vigorously contest", is linked to its foreign subsidiaries and payments made between them.

(...) This is an examination of how Amazon set up its tax shield, and how it works.

by afew (afew(a in a circle)eurotrib_dot_com) on Thu Dec 6th, 2012 at 03:52:23 PM EST
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