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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 Friday March 23 2018, @03:44AM (2 children)
You missed an opportunity to learn.
(Score: 0) by Anonymous Coward on Friday March 23 2018, @02:10PM (1 child)
Nope, I've seen enough of your explanations to get the gist. Competition can be good, but forming everything around it is so very flawed. No better than communists who think having a central beaurucracy control every detail is society is the best way to go. As always the best system is a mix of all, but obviously you drank the US capitalist koolaid. The really sad part is the success of capitalism and technology that you types like to flaunt as evidence of superiority might actually end up killing more humans than ever before. Ecological collapse is possible, then we'll be lucky to survive at all.
(Score: 1) by khallow on Friday March 23 2018, @04:33PM
That's fine. I didn't expect anything more than what you've written above.