Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEU prepares revenue-based tax on US tech giants
http://www.dw.com/en/eu-prepares-revenue-based-tax-on-us-tech-giants/a-43009838EU prepares revenue-based tax on US tech giants
Date 16.03.2018
The European Commission is to unveil plans for a digital tax on big US tech companies. The move is aimed at recovering billions of euros from multinationals that divert their earnings to low-tax nations. According to a draft plan, Brussels proposes big tech companies should be taxed on overall revenue in the EU and not just on their profits, at a rate of around 3 percent.
(snip)
The new EU tax plan would target companies with global annual turnover above 750 million ($924 million), such as Google, Twitter, Facebook, Airbnb and Uber. Smaller startups that struggle to compete with the giants would be spared, as would firms like Netflix, which depend on subscriptions.
Under current EU law, firms can choose to book their income in any member state of the bloc, prompting them to pick low-tax nations like Ireland, the Netherlands or Luxembourg. This has meant that other nations in the bloc have missed out on tax revenue from big US firms even though sales in those countries may account for a bigger share of the earnings.
The new draft plan says that revenue from the digital tax would be fairly distributed to where the companies in question actually operate according to the level of activity in those nations and not the level of booked profit.
Brussels looks set to unveil the plan on the eve of a March 22 EU summit, and ahead of an April G20 meeting of the world's most developed nations.
(snip)
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
3 replies, 720 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (3)
ReplyReply to this post
3 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
EU prepares revenue-based tax on US tech giants (Original Post)
nitpicker
Mar 2018
OP
BigmanPigman
(51,593 posts)1. Sounds good to me.
stuffmatters
(2,574 posts)2. Excellent. Make these free loading corps pay their fair share.
Also liked the Ca point of sale tax for large corps that was proposed as a major source of revenue towards financing Ca Medicare for All.
OnDoutside
(19,956 posts)3. I'm not sure this will go anywhere. Each EU state has an option out on tax.