Thursday, 13 May 2021

He needs it as down-payment on his yacht.

From The Independent:

In the latest setback to European Union efforts to tackle corporate tax avoidance, a court on Wednesday annulled a ruling by the European Commission that a tax deal between the Luxembourg government and Amazon amounted to illegal state support.

The European Commission ordered the U.S. online retailer in 2017 to pay around 250 million euros ($300 million) in back taxes to Luxembourg. But judges at the EU's General Court said the European Commission didn't prove “to the requisite legal standard that there was an undue reduction of the tax burden of a European subsidiary of the Amazon group."


If I understand correctly, Amazon will get a refund of the $300 million.

Also from The Independent:

Jeff Bezos, Amazon founder and the world’s richest man, will reportedly soon be the owner of a mega-yacht he bought for $500 million, almost double the price he paid to buy the Washington Post newspaper in 2013.

While the details of the vessel have largely been kept under wrap, the 417-foot superyacht is so massive that it has a yacht of its own, along with a helipad, reported Bloomberg.

22 comments:

Lola said...

Ho Ho. It's all a game anyway. The EU postures a bit because reasons. Bezos pays the Danegeld because well, also reasons. Later on it all get unwound by a 'Court' deciding on massively (deliberately?) complex tax 'law'. And it all goes quiet for a bit.

And then next year there will be another 'reason' to 'fine' Amazon'. and so on.

Mark Wadsworth said...

L, that's how the EU deal with these non-taxpaying multinationals, they just "fine" them for some made-up offence every couple of years. A bit ludicrous that Amazon asked for it back, I'd shut up if I were them.

MrMC said...

It is convenient, if I need something quickly, the Amazon thing, and also the complete lack of the "normal" retail outlets without a range of products or anyone to assist you.
but on the other hand, I am so tired of every town centre comprising the same 10 or twenty stores you can list them yourselves without me telling you, and yet so nice to go to somewhere for example, Whitby, Saffron Walden, Wells Next the Sea,

A simple browse around good independent bookshops and music shops (and bloody handbag shops for the wife) is a simple pleasure that I fear, will sooner or later disappear.

MrMC said...

BTW what is it about bloody wool shops, we have two in our town, never felt the need to buy wool. and I do doubt the passing trade

MrMC said...

one of these shops takes two fronts It must be a drug or sex ring thing how much wool can anyone sell in a week ?

Mark Wadsworth said...

MC, I order stuff from Amazon like anybody else.

Lots of places have weird specialist shops which somehow keep going. I suspect they are owner-occupiers, so can survive on lower gross profits because there's no rent to pay.

Piotr Wasik said...

MW - "so can survive on lower gross profits because there's no rent to pay." - i.e. subsidised?

Bayard said...

PW, can you subsidise yourself?

Piotr Wasik said...

@B - they don't pay for the benefit of the location, like homeowners who bought decades ago and now would not be able to afford their home.

Love spell caster Dr Ahmed said...

Well my family survives on half a us dollar per day....so this post really touches me and the entire family

Mark Wadsworth said...

PW, yes.

B, they aren't subsidising themselves, the government and society are subsidising them by providing services they don't have to pay for.

Dr A, I'm not sure if that's spam, but I'll give you the benefit of the doubt.

PW, even 20 years ago, there were lots of home-owners who didn't earn enough to qualify for a mortgage to buy their own house - but nearly all of them would be able to afford to rent it.

MrMC said...
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MrMC said...
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MrMC said...

It took two days of internet searches and failed purchases to find a staple gun that could deliver half inch staples.
I have a desk full of staples ordered online that do not fit my existing staple gun, in the end I thought just get another staple gun, found a "Homebase" and none of the staple guns had a price attached so I requested some assistance, it took some time, quite some time. and after finding the price, I had the nerve to ask which size staples each one could deliver and if they had them in stock

I gave up in the end,
£500 quoted to have my stairs carpeted and there was me thinking I could do it myself
I suspect a conspiracy between carpet fitters and staple gun suppliers

MrMC said...

I am now wondering if wool would work on the stairs, there is plenty of help out there, and they may possibly help wth male cothing as there is nowhere within a 20 mile radius that does that apart from a Primark

Bayard said...

MC, Arrow staplers are the ones to get.

MrMC said...

The issue is, everyone will sell you a staple gun, just try to to find what size staples they deliver, be prepared to lose two days from your life, I am tempted now to buy some wool and a radio controlled plane

MrMC said...

It is quite simple really , I need half inch staples, or 12 mm in LENGTH not WIDTH try explaining that to anyone in a shop if you can find a shop.

There is your economic problem in a nutshell

I also recall trying to explain the concept of a sphere to a shop assistant, when trying to buy a candle after 20 minutes I gave up

MrMC said...

So, it's round is it ? tell me again..

MrMC said...
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MrMC said...

Blair, education, education. education, yep they all know about racism, they all know black people are all good and jews are all bad

what's a sphere again ?

Bayard said...

MC, eBay is your friend.