Amazon has won an EU appeal after being hit with a €250 million ($303 million) tax bill by the European Commission (EC) in 2017, the WSJ has reported. After a similar decision in favor of Apple, the judgement is another setback for the EU in its effort make US tech giants pay more taxes.
Apple, the world’s most valuable company, has always proudly trumpeted its California roots. But the most American of all tech companies has never been a fan of paying back into the system that facilitated its success. On Wednesday, it announced that now that the US government has sufficiently capitulated on corporate tax rates, it will pay a fraction of the taxes it previously would have owed.