Tech giants could be taxed up to 5 percent of total revenue under new EU plan

Tech giants could be taxed up to 5 percent of total revenue under new EU plan

6 years ago
Anonymous $gcegwZ91io

https://www.cnbc.com/2018/02/26/taxes-tech-giants-could-pay-up-to-5-percent-of-total-revenue-to-eu.html

The European Commission wants to tax large digital companies' revenues based on where their users are located rather than where they are headquartered at a common rate between 1 and 5 percent, a draft Commission document showed.

The proposal, seen by Reuters, aims at increasing the tax bill of firms like Amazon, Google and Facebook that are accused by large EU states of paying too little by re-routing their EU profits to low-tax countries such as Luxembourg and Ireland.