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: 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?