Stories
Slash Boxes
Comments

SoylentNews is people

posted by mrpg on Thursday March 22 2018, @03:20PM   Printer-friendly
from the plus-d'argent dept.

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.

Also at Reuters and WSJ.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 1) by khallow on Thursday March 22 2018, @05:48PM (1 child)

    by khallow (3766) Subscriber Badge on Thursday March 22 2018, @05:48PM (#656734) Journal
    If that money actually exists, it's there because of dumb tax law. As to capitalism, the beauty of the system is that one doesn't have to pay lipservice to some sort of imaginary social morality or order in order to contribute to society.
  • (Score: 1, Insightful) by Anonymous Coward on Thursday March 22 2018, @06:33PM

    by Anonymous Coward on Thursday March 22 2018, @06:33PM (#656768)

    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?