SPY424.31+0.70 0.17%
DIA345.12+0.14 0.04%
IXIC14,069.42+49.09 0.35%

Market Chatter: Court Dismisses European Commission's Order Against Amazon

05/12/2021 02:52

06:50 AM EDT, 05/12/2021 (MT Newswires) -- The Luxembourg-based General Court has dismissed a ruling by the European Commission that required Amazon.com (AMZN) to pay Luxembourg 250 million euros ($303 million) in unpaid taxes, Reuters reported Wednesday.

While dismissing the ruling, the judge reportedly said the Commission failed to prove that "there was an undue reduction of the tax burden of a European subsidiary of the Amazon group."

The EC issued its ruling in 2017.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 3,218.00, Change: -5.91, Percent Change: -0.18