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4/6, 1:51 PM (Source: TeleTrader)
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SEC rules against Amazon in tax transparency case - report

The United States Securities and Exchange Commission (SEC) ruled in favor of investors that demanded Amazon.com Inc. to be more transparent on taxes, the Financial Times reported on Wednesday.

Amazon tried to counter the investors' request. However, earlier this week, it received a letter from the SEC, which the Financial Times saw, that said that "we are unable to concur in your view that the Company may exclude the Proposal. In our view, the proposal transcends ordinary business matters."

The investors are requesting that Amazon discloses its activities, such as the amount of tax paid and revenue earned in each country they are present in, in accordance with the standards established by the Global Reporting Initiative (GRI).

Baha Breaking News (BBN) / JR