SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Amazon Inc. claimed its win in a fight against the European Commission that accused it of benefiting from illegal tax breaks. The top court in Europe sided with the American e-commerce giant by dismissing the appeal of the EU and effectively upholding the previous ruling that favored the company.
In declaring its decision, the European Court of Justice (ECJ) explained that the EU's executive unit had not established that a tax agreement between Amazon and Luxembourg was a state aid that was not compatible with the internal market, as per CNBC.
Blow to EU’s Margrethe Vestager
The Court of Justice's latest resolution in Amazon's $270 million or €250 tax bill is said to be a binding ruling. It was handed down on Thursday, Dec. 14, and officially discarded the European Commission's appeal.
In any case, business observers opined that the outcome is another burning defeat for Margrethe Vestager, the EU Competition's commissioner who led the campaign against special tax treatment being granted to major firms by member states. She has been involved in this effort for years and slapped Apple Inc. with a record €13 billion penalty, a case still awaiting a final decision at the top court.
Reactions to ECJ's Ruling
Reuters reported that the EU top court's decision is final. This means Amazon no longer has to shell out $273 million to pay taxes to Luxembourg. The spokesperson of the company issued a statement shortly after its court win.
"We welcome the Court's ruling, which confirms that Amazon followed all applicable laws and received no special treatment," he said. "We look forward to continuing to focus on delivering for our customers across Europe."
On the other hand, some individuals are against the case's outcome. An Oxfam EU tax expert, Chiara Putaturo, slammed the decision by saying, "Amazon got an early Christmas present this year, as the company dodged its decade-old tax bill to Luxembourg and can continue to do so."
She added, "This is why the EU must come forward with real tax reforms. It can start by not looking the other way when it comes to tax havens within its borders allowing companies to sidestep their tax bills through empty offices."
Photo by: Yender Gonzalez/Unsplash
