Facebook, Google and Amazon could pay 'fair' tax under EU plans
Posted in: Government & Policy at 22/03/2018 14:47
Amazon, Google and Facebook could be made to pay a “fair” share of tax under new European Union proposals on digital companies that could heighten transatlantic tensions.
The European commission called for large technology companies to pay a 3% tax if they make money from user data or digital advertising in a country, regardless of their bricks-and-mortar presence. As well as social media companies making money through user data, the move would also catch online market places, such as Airbnb and Uber.
EU proposes online turnover tax for big tech firms
The European Commission proposed rules on Wednesday to make digital companies pay more tax, with U.S. tech giants such as Google, Facebook and Amazon set to foot a large chunk of any bill.
However, many EU leaders, who will debate the issue of how to claw taxes from the elusive new digital economy at a Brussels summit on Thursday, oppose the executive’s proposals. Despite support from big powers Germany and, especially, France, that risks making it very hard to turn the idea into European law.