Sign in / Join

Amazon will pay EUR 100 million after agreement with the Italian treasury

Ⓒ AFP/Archivos – LOIC VENANCE – | The EU is targeting large internet groups such as Amazon or Apple to carry out the practice known as fiscal optimization, consisting of financial setups to minimize their taxes

The electronic commerce giant Amazon signed an agreement with the Italian treasury that provides for the payment of 100 million euros (USD 117 million) as final settlement after an investigation for tax fraud.

The facts go back to the period between 2011 and 2015, explained the Italian treasury in a statement.

In April the Italian press had indicated that, according to the researchers, Amazon had implemented a mechanism to declare in Luxembourg – where the tax is much lower – about 130 million euros of Italian profits.

More generally, the European Union is targeting large internet groups such as Amazon or Apple to carry out the practice known as fiscal optimization, consisting of financial setups to minimize their taxes.

These companies artificially transfer the profits obtained throughout the EU to a single country of the block, such as Ireland or Luxembourg, where they benefit from an advantageous tax regime.

Terms of service