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Amazon's love of Luxembourg has tax benefits
Amazon is channeling huge amounts of money through a small Luxembourg-based unit, largely to avoid paying hundreds of millions of dollars in U.S. and European taxes, a Reuters report suggests. There's no commercial reason for the creative-but-legal accounting, which is attracting scrutiny from U.S. officials. "The IRS shouldn't be happy about this. It sounds like they're not," says tax expert Michael McIntyre.
Reuters (12/6)
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