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EU Prepares Additional Taxes for Tech Giants

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

takyon writes:

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

 
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  • (Score: 3, Insightful) by Azuma Hazuki on Friday March 23 2018, @02:24AM (1 child)

    by Azuma Hazuki (5086) on Friday March 23 2018, @02:24AM (#656985) Journal

    That's a dangerous, complacent attitude to take. MS is infecting Linux, and that's without even going into the slightly crazy conspiracy theory I've been nurturing that RedHat is secretly dealing with them. Don't turn your back on your foe until he's dead, and preferably in several pieces...

    --
    I am "that girl" your mother warned you about...
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  • (Score: 0) by Anonymous Coward on Friday March 23 2018, @04:56AM

    by Anonymous Coward on Friday March 23 2018, @04:56AM (#657025)

    Slightly crazy? Not crazy at all, they can see the gradual shift indicating that users are fed up. Remember the Balmer chant, "developers developers developers develop!"

    Of course they want to secure that portion.