European Union regulators' tax crackdown on Amazon.com Inc.—like the EU's case against Apple Inc.—should spur U.S. policy makers to address companies' aggressive offshore tax-avoidance strategies before it's too late, experts said.
On Wednesday, the EU said Luxembourg must collect 250 million euros ($294 million) from Amazon. Regulators found that Luxembourg had given the world's largest online retailer special tax advantages that meant "almost three quarters of Amazon's profits were not taxed,'' EU competition commissioner Margrethe Vestager said.
In a statement, Amazon denied receiving special tax benefits.
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