The Presidential Daily Brief

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  1. Luxembourg in Hot Seat Over Amazon Tax Deal

    Brussels is flexing its muscles over an alleged Amazon tax deal. The European Commission charges that Luxembourg allowed the online giant to reap potentially illegal state subsidies for years — in a sweetheart deal like those that have entangled Apple in Ireland and Starbucks in the Netherlands. Investigators believe the 540,000-strong Grand Duchy granted Amazon extremely favorable terms in a 2003 tax ruling, which limited the retailer’s overall bill to less than one percent of its European income.

    FT (sub), AFP

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