The proposed local revenue tax, intended to operate until an international solution can be agreed, deserves support

Radical stuff from the European commission: it is proposing a tax on the revenues of large digital companies operating in the EU, to be levied at 3%. The idea breaches the basic principle that corporate taxes should be charged on profits, not turnover, and thus will cause conflict with the US and probably a few EU countries too. But Brussels deserves support.

No measure to date has halted the massive under-taxation of global technology firms. A crude local revenue tax, intended to operate until an international solution can be agreed, is better than the current state of affairs.

Continue reading…

Read More The UK should get behind the EU’s radical tax plan for tech firms | Nils Pratley

Facebook Comments