By Sam Schechner Inc. struck a new blow to the European Union's efforts to wring more tax from big tech companies when the bloc's second highest court sided with the company over a $300 million tax bill.

An EU court in Luxembourg on Wednesday annulled a 2017 decision from the European Commission, the EU's top antitrust authority, that had ordered Amazon to pay 250 million euros ($303.8 million) in taxes to Luxembourg -- the latest of several big EU tax decisions to be overturned.

The decision is a victory for Amazon, and a significant blow to Margrethe Vestager, an executive vice president of the European Commission who is leading a campaign to curb alleged excesses by some of the world's largest tech companies including Amazon, Apple Inc. and Alphabet Inc.'s Google.


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(END) Dow Jones Newswires

May 12, 2021 05:36 ET (09:36 GMT)

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