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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, @08:46PM (3 children)
Cut the funding first. Then we'll talk. I'm not interested when the government is taking 50%. That's happening in large parts of Europe and parts of the US.
(Score: 3, Informative) by Anonymous Coward on Thursday March 22 2018, @09:26PM
Wow, you're a bigger moron than anyone realized.
(Score: 0) by Anonymous Coward on Saturday March 24 2018, @02:57AM (1 child)
The problem seems to be that an overwhelming part of people living in Europe agree and support the idea of payinng high taxes which the goverments bounce back at them in the shape of public benefits and social assets. Again, this probably is a conseguence of people not seeing the goverment as an oppressive entity that works against them but instead as an ally.
If GAFA do not like it, they can just leave. Rest asured no tears will be shed for them. I love it that the EU is not USA, for many reasons.
(Score: 1) by khallow on Saturday March 24 2018, @05:43AM
We already see a number of countries in Europe that are no longer managing that, such as the "PIGS". And immigration policy already is a mess because those public benefits and "social assets" need taxes from young workers to cover. If your population isn't growing them, then you need to import them.