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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.


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  • (Score: 2, Insightful) by Anonymous Coward on Thursday March 22 2018, @06:50PM (1 child)

    by Anonymous Coward on Thursday March 22 2018, @06:50PM (#656780)

    You're an idiot who benefits from social contracts every day. You can wish for utopia all you want but since you are incapable of comprehending basic human society you're gonna have a tough time of it.

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  • (Score: 2) by Azuma Hazuki on Friday March 23 2018, @02:26AM

    by Azuma Hazuki (5086) on Friday March 23 2018, @02:26AM (#656987) Journal

    The word you're looking for here is "sociopath." Though I'm sure he'd prefer "libertarian." The fundamental fallacy of libertarianism is that they think they exist in vacuum, and have no understanding of things like history, culture, idea diffusion, ancestral memory etc. It's completely at odds with reality, but it takes some effort to observe that reality in the first place, which means it's unfortunately probably one of those cognitive shortcuts people like to take...

    --
    I am "that girl" your mother warned you about...