Wake Up Call: EU Hits Amazon With $294M Back-Tax Bill

• Amazon.com was hit with a $294 million back-tax bill to Luxembourg, as the world’s biggest online retailer becomes the latest U.S. giant to fall afoul of the EU’s state-aid rules. The European Commission also said it’s suing Ireland for foot-dragging on collecting the record 13 billion-euro bill the EU executive body last year ordered it to get from Apple Inc. And McDonald’s Corp. could be hit with a tax ruling in the next couple of weeks. ( Bloomberg ) Europe is getting tougher on tech companies it believes don’t pay their fair of taxes. ( New York Times DealBook )

• In his recent Senate hearing, ...