5/12, 2:48 PM (Source: TeleTrader)
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Vestager on Amazon case: All firms should pay their fair tax

No company should be excluded from the obligation to pay its "fair share of tax," European Commissioner for Competition Margrethe Vestager (pictured) stated on Wednesday, commenting on the ruling made by the EU General Court regarding Inc. earlier today.

"Tax advantages given only to selected multinational companies harm fair competition in the EU. They also deprive the public purse and European citizens of funds for much needed investments to recover from the coronavirus crisis and seize the twin transitions," Vestager's statement read.

EU's second-top court annulled the European Commission's decision under which the US-based company had to pay Luxembourg more than $300 million in back taxes.

Breaking the News / BU