Amazon Is Going to Pay More Tax in Europe


Under pressure from E.U. authorities, 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…

View original post 110 more words


Prinzo and Associates LLC is a tax firm located in Pittsburgh's South Hills. Since 1991 we have been helping clients with tax problems. We also help clients with retirement and other financial needs. If your business is in need of payroll, quickbooks or other financial assistance, we are here to help!

Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Monday - Friday 9a-5p

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 8 other followers

%d bloggers like this: