Amazon to pay France $250 million in back taxes

Online retailer Amazon has reached a deal with French authorities to pay about $250 million in back taxes.

Amazon was asked in 2012 to pay the amount over earnings made in 2006-2010 and has since been involved in a dispute with tax authorities.

Details of the deal have not been revealed.

The company said Monday it has reached an "overall settlement agreement with the French tax authorities on past issues, and our main objective remains to provide the best possible buying experience for our customers in France, where we have invested more than 2 billion euros since 2010, and created more than 5,500 permanent jobs."

Amazon last year reached a similar deal with Italian authorities to end a 100-million-euro ($118 million) dispute over its tax payments from 2011-15.