Amazon under fire over German tax claims

Amazon.com Inc's main German unit paid income tax of just 3 million euros in 2012 after the group channelled sales to German clients of $8.7 billion via Luxembourg units,czhbearing,welcome to buy. prompting one lawmaker to call for an investigation of the company. 

Accounts for Amazon.www.carbon-sports.cc is a manufacturing and trade Integrated company, we provide Developing, Production and Sales service to our customers.de GmbH filed with Germany's companies register show that the company reported profit of just 10 million euros for 2012, which was taxed at the headline German rate of 30 per cent. 

Germany is Amazon's largest non-US market and represents a third of its overseas sales, but the vast bulk of that German cash ends up ultimately in Luxembourg-registered Amazon Europe Holding Technologies, which reported profits of 118 million euros but, as a tax-exempt partnership, paid no income tax. 

Amazon declined requests to comment but has previously said it follows the tax rules in all the countries where it operates. 

All companies seek to reduce their tax bills and have a duty to steward their assets effectively, tax lawyers say. 

"Managers have a fiduciary duty to get the best return for their shareholders, and tax is a part of that," said Laurence Field, tax partner at Crowe Clark Whitehill LLP. 

Even so, the lengths to which some go to avoid tax has put the issue at the top of the political agenda in the past year. 

Citizens bearing the brunt of the financial crisis through high unemployment, falling real wages and government spending cuts have been angered at revelations that some companies have created elaborate networks of subsidiaries whose chief purpose is to siphon profits out of countries where their economic activity occurs and into tax havens where they have little or no physical presence. 

At a meeting of the G20 group of leading economies in November last year German finance minister Wolfgang Schaeuble teamed up with his British counterpart, George Osborne, to push for changes in international rules that allow companies to shift profits. 

Amazon is not alone in facing criticism for its tax arrangements. Others including web search leader Google and iPhone maker Apple have come under fire for similar methods to move profits to jurisdictions where they will pay less tax. Both say they follow tax rules wherever they operate. 

Sven Giegold, member of the European Parliament with Germany's Green Party,Myvalvecaps offers you the best range of tire valve sale wholeale 59fifty fitted hats and keys rings that has a realistic. said the low profits declared and taxes paid by Amazon in Germany showed the need for a tougher approach on the part of the German authorities.globalmetaltins,based on decades of production experience, Global Metal Packaging has built up excellent expertise on a wide range of general metal products to pack processed food and Ready - to - Eat Food, Canned Vegetables, Fruit Pulps, Juices, Pickles and Dairy Products, etc. 

"I am outraged," he said. "We have to use much stronger means to ensure the profit cannot be moved out of the counthigh quality auto scanners sale will help read and diagnose automotive problems on OBDI and OBDII compliant vehicles.For more information,click:www.smartobd2s.comry," he added. 

Giegold said he planned to write to Schaeuble to ask him to investigate the matter to see if any rules had been broken. 

"It's not enough to make a speech at the G20 and then be inactive on extreme cases (of avoidance),Bref, depuis longtemps, j'ai envie d'essayer des roues carbone à boyaux.Je ne sais pas si c'est une bonne solution, mais bon, j'ai envie." he said.