Stories
Slash Boxes
Comments

SoylentNews is people

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.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 2) by DannyB on Friday March 23 2018, @01:26PM

    by DannyB (5839) Subscriber Badge on Friday March 23 2018, @01:26PM (#657108) Journal

    I think people pity what's left of Microsoft.

    Not I!

    May their ashes be scattered to the four winds. People that have the slightest pity simply don't remember or even know how evil Microsoft was in the 1980's and 90's.

    --
    People today are educated enough to repeat what they are taught but not to question what they are taught.
    Starting Score:    1  point
    Karma-Bonus Modifier   +1  

    Total Score:   2