Europe hits Amazon with tax bill of nearly $300 million

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The European Union has ordered Amazon (AMZN, Tech30) to pay €250 million ($293 million) after finding that its tax arrangement with Luxembourg was illegal.

The European Commission said Wednesday that Amazon received unfair tax benefits that allowed it to pay substantially less tax than other businesses.

Luxembourg must now recover the “illegal aid.”

CNNMoney (London) First published October 4, 2017: 5:44 AM ET

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