Amazon Beats IRS In 9th Circ. Spat Over Valuing Intangibles
Law360 (August 16, 2019, 8:45 PM EDT) -- Amazon defeated an IRS appeal Friday, as a three-judge Ninth Circuit panel unanimously upheld a U.S. Tax Court ruling that favored the online retailer’s valuation of intangible assets transferred to a Luxembourg subsidiary.
The Ninth Circuit on Friday agreed with the U.S. Tax Court in finding that Amazon.com Inc. had been reasonably compensated for intellectual property transferred to a Luxembourg subsidiary. (AP) The Ninth Circuit agreed with the Tax Court’s finding that Amazon.com Inc. had been reasonably compensated for intellectual property shifted to Amazon Europe Holding Technologies SCS, or AEHT, in 2005 and 2006 to license for European operations. Amazon had estimated that...
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