Technology giants face European 'digital tax' blow
Big technology firms face paying more tax under plans announced by the European Commission. It said companies with significant online revenues should pay a 3% tax on turnover for various online services, bringing in an estimated €5bn (£4.4bn). The proposal would affect firms such as Facebook and Google with global annual revenues above €750m and taxable EU revenue above €50m.
The move follows criticism that tech giants pay too little tax in Europe. EU economics affairs commissioner Pierre Moscovici said the "current legal vacuum is creating a serious shortfall in the public revenue of our member states". He stressed it was not a move against the US or "GAFA" - the acronym for Google, Apple, Facebook and Amazon. According to the Commission, top digital firms pay an average tax rate of just 9.5% in the EU - far less than the 23.3% paid by traditional companies.
(Score: 2) by Runaway1956 on Thursday March 22 2018, @05:21PM (8 children)
Sorry, I'm not a capitalist. I don't trust many companies. I owe no loyalty to any corporation. I only know what I see and hear. Apple is sitting on billions in liquid assets, that could be put to work, somehow. Even capitalists hate to see money sitting - they generally want to invest that money into something that will make more profit. Although I'm no socialist, I recognize that billions sitting in vaults are worthless, or worse. Apple could invest that money into Elon Musk and/or similar ventures. Apple could improve mankind's existence - or at least try. This is one of the reasons I like - almost admire - Musk. With Musk, a profit is necessary to stay in business, but profit isn't the end game. Musk has goals - Apple really has none.
(Score: 1) by khallow on Thursday March 22 2018, @05:48PM (1 child)
(Score: 1, Insightful) by Anonymous Coward on Thursday March 22 2018, @06:33PM
Helps when you are able to help write that rule book (Tax Law).
Here's a game: (easy rules)
I win and you lose.
See how easy it is to say that they are playing by the same rules as everyone else? If everyone could use the same rules they are or pay off a government (Ireland we are looking at you) to change the rules in your favor. Then gee willakers we could all be living with no general services for anyone. No roads, no fire/police, no common defense, no public education but then everyone would be following the rules and that would be ok right?
(Score: 0) by Anonymous Coward on Thursday March 22 2018, @06:15PM (1 child)
I respect Musk for SpaceX, Tesla is overvalued and underperforming while the hyperloop is crazy town. Apple forgot that it was creatives who initially embraced their products. Mass market success has resulted in hardware line-ups that fail to preserve or expand on their historical market niche. Dr Jordan Peterson (of whom aristarchus is a huge fan) has made the point that creatives and entrepreneurs have the same personality type and exist outside the traditional hierarchies found in company structures. [youtube.com] Corporations, by their very nature, remove the risk takers and non-conformists they need to innovate. R&D is also expensive, it's easier for capitalists to allow others to take the risk; investors are suckers! [techcrunch.com]
(Score: 2) by takyon on Thursday March 22 2018, @08:53PM
If you think Tesla is overvalued now, wait until you hear about Musk's obscenely large package.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 0) by Anonymous Coward on Thursday March 22 2018, @07:17PM (3 children)
I was pretty sure he was a right of center American, so hearing him espouse an anti-capitalist view seems sort of... odd.
Are the bodysnatchers here? Did gewg steal Runaway's password as a prank?
Inquiring minds want to know!
(Score: 0) by Anonymous Coward on Thursday March 22 2018, @07:44PM
Why? Surely you're above projecting stereotypes onto people and judging them based on your personal prejudice rather than the real nuances of their beliefs?
(Score: 0) by Anonymous Coward on Thursday March 22 2018, @09:15PM
Right of center does not always equate for every issue. I met an old conservative who thought we should save the trees and got called a goddamn communist for telling his friend to not cut down some big old trees that weren't a problem.
I don't recall runaway ever going full capitard and often he decries the corporate abuses. He is a ratherconfusing mix of things.
(Score: 2) by Azuma Hazuki on Friday March 23 2018, @02:22AM
This is fairly common from my observation of him: like me, he is a straight shooter in a world of crazy hairpin turns, loop-de-loops, and the kind of upside-down corkscrew tunnels that would make Sonic the Hedgehog lose his lunch. We both stick to our principles, come hell or high water. Unlike me, he seems not to do much research or have much basic human decency, but the underlying MO is still pretty much the same. That may be why we piss one another off so much.
I am "that girl" your mother warned you about...