Amazon Is Going to Pay More Tax in Europe

TIME

Under pressure from E.U. authorities, Amazon.com Inc. has changed the way it books revenue from sales in Europe, a move that could lead to it paying much more in tax, according to The Wall Street Journal.

The WSJ reported at the weekend that it is now booking revenue through national branches in four of the five largest markets in the E.U.: the U.K., Germany, Italy and Spain. It attributed those details to “a person familiar with the matter,” but said a spokesman confirmed a change in practice as of May 1.

So far, Amazon has booked the overwhelming majority of its sales in the E.U. through a subsidiary registered in tiny Luxembourg, where it has arrangements that allow it to pay a fraction of the taxes that would be due if it traded through local subsidiaries. In 2012, it famously paid only 2.4 million pounds ($3.6 million) of tax…

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