12/06/2012 05:59 pm ET Updated Feb 05, 2013

Amazon's Billion-Dollar Tax Shield

In 2005, Amazon rented a historic five-storey building in Luxembourg's Grund quarter, right at the bottom of a steep rock-walled valley below the old town.

By setting up in Luxembourg, and channelling sales through its units there, the world's biggest online retailer could minimize corporate taxes.

It was a move with big financial consequences.

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