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EU court rejects an order for Amazon to pay back $300 million in taxes

A sign at the Amazon.com, Inc. BHM1 fulfillment center is seen before sunrise on March 29, 2021 in Bessemer, Alabama.Patrick T. Fallon | AFP | Getty ImagesLONDON — Amazon won its appeal against the European Commission on Wednesday, who had ordered the tech giant to pay back 250 million euros ($303 million) in taxes to Luxembourg.The EU’s general court said that the commission, the EU’s executive arm, failed to prove that there was an illegal tax advantage given to Amazon by Luxembourg.This comes after the Brussels-based institution ruled in 2017 that Luxembourg had granted undue tax benefits to the U.S. e-commerce giant. The commission and Amazon were not immediately available for comment when contacted by CNBC on Wednesday.This is a breaking news story, please check back later for more.

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