Amazon receives $252 mln back tax claim

LONDON Mon Nov 12, 2012 12:17pm EST

LONDON Nov 12 (Reuters) - Internet retailer Amazon said it had received a $252 million demand from the French tax Authorities for back taxes, interest and penalties in relation to "the allocation of income between foreign jurisdictions".

Amazon said it would fight the claim, in court if necessary, and that the claim related to the calendar years 2006 through 2010.

"We disagree with the proposed assessment and intend to vigorously contest it," the company said in its third quarter results filed last month.

An Amazon official referred to the tax demand, which had not been previosuly widely reported, at a UK parliamentary committee hearing.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.