Amazon wins case over $300m tax bill in EU Amazon’s victory follows a landmark court defeat for the European Commission against Apple, which contested a record €13bn tax order 12 May 2021 - 12:54 Stephanie Bodoni Picture: REUTERS/REGIS DUVIGNAU
Brussels Amazon won its bid to topple a €250m tax bill in another blow to European Commissioner Margrethe Vestager’s crackdown on preferential fiscal deals.
Regulators failed to show that the US online retailer was given special treatment by Luxembourg’s tax authority in violation of state-aid rules, the EU general court ruled on Wednesday. Amazon’s victory follows last year’s landmark court defeat for the EU commissioner against Apple, which contested a record €13bn tax order.
Profit before other items is defined as revenue less operating expenses i.e. profit before taxation, finance income and costs, depreciation, amortisation, bargain purchase gain and gain on the call options Underlying statistics are net of certain transactions which do not form part of the regular operations of the business as further detailed in Table 2 below
· Stability of recurring revenue apparent through the Covid-19 virus · Focussed on keeping colleagues safe through working from home and following Governments guidelines and maintaining customers service levels · The majority of our key IT projects for improved profitability are now live with the remaining concluding in the first half of 2021. Continued focus on technology to become a key differentiator.
Finance & Accounting Outsourcing Market to Witness Massive Growth by SAP, inDinero, Microsoft
iCrowd Newswire
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FTA conducts 2,707 field inspection visits
ABU DHABI, 2 hours, 3 minutes ago The Federal Tax Authority (FTA) has conducted more than 2,707 field inspection visits in cooperation with the competent authorities through 35 inspection campaigns across UAE markets in the first quarter of 2021. FTA Director-General, Khalid Ali Al Bustani, confirmed that the sophisticated, cutting-edge tools adopted by the Authority during inspections enable inspection teams to d accurately carry out their tasks through the latest field electronic mechanisms which correspond to best practices. This contributes to tightening controls on UAE markets to prevent the sale, circulation, and stockpiling of products that have not fulfilled their Excise or Value Added Tax (VAT) obligations.