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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: 0) by Anonymous Coward on Thursday March 22 2018, @09:15PM
Right of center does not always equate for every issue. I met an old conservative who thought we should save the trees and got called a goddamn communist for telling his friend to not cut down some big old trees that weren't a problem.
I don't recall runaway ever going full capitard and often he decries the corporate abuses. He is a ratherconfusing mix of things.