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, @06:28PM (3 children)
Who are these others? If they're businesses as well, I advocate reducing their taxes. I have no problem with 0% business taxes in the first place. Businesses are valuable, unemployed people are not.
(Score: 3, Insightful) by bob_super on Thursday March 22 2018, @06:38PM (2 children)
Dang, it's almost as if I addressed the 0% in the next paragraph, and you ignored it in your response...
(Score: 2, Insightful) by Anonymous Coward on Thursday March 22 2018, @06:46PM
Well it is khallow, he does not let facts interrupt his ideological narrative.
(Score: 1) by khallow on Thursday March 22 2018, @07:24PM
Income tax, of course.