MARKETWATCH – NATALIA DROZDIAK, SAM SCHECHNER
The European Union’s antitrust regulator is set to order Luxembourg to retrieve roughly several hundreds of millions of euros in allegedly unpaid taxes from Amazon.com Inc. as soon as Wednesday, according to people familiar with the matter.
The decision would come amid a renewed crackdown by the EU, which has promised to scrutinize tax arrangements between its various member states and big multinationals operating in Europe.
Regulators in Brussels have homed in on sweetheart tax deals governments have issued to large multinationals in allegedly illegal state aid. Last August, the European Commission ordered Apple Inc. to repay Ireland EUR13 billion ($15 billion) in what it said was uncollected taxes, a ruling both Apple and Ireland are contesting.
Luxembourg’s tax practices in particular came under the spotlight after leaked documents revealed details of hundreds of highly favorable deals it has granted to companies including PepsiCo Inc. and FedEx Corp.