(Photo: Chris Ratcliffe/Bloomberg)
Amazon.com Inc. is under investigation in Italy for alleged tax evasion, Francois Nuyts, Amazon’s chief for Italy and Spain, said in an interview Tuesday.
The Seattle-based online retailer is cooperating with the probe, Nuyts said. “Amazon pays all applicable taxes in every jurisdiction where we operate, including Italy, and we are cooperating fully with the Italian authorities,” Nuyts said when asked about legal and tax issues.
“E-commerce is a low-margin business, and Amazon is in a phase of heavy investment, so profits are slim,” the executive said. “We are a retailer with a low-margin business and taxes are due on corporate profits. We invested over 15 billion euros in Europe in the last six years alone.” He didn’t give additional details about the tax case.
The original article can be found at bloomberg.com