New EU plan to tax digital giants


© Reuters. New EU plan to tax digital giants

  • EU finance ministers from 10 countries are supporting a plan to start taxing the revenues of digital giants like Google (GOOG, GOOGL), Amazon (NASDAQ:AMZN) and Facebook (NASDAQ:FB), instead of them being taxed on profits that they currently report in often low-tax countries.
  • But as all members have to agree on any plans to change EU taxation rules, the ministers agreed to take up the issue again in their meeting in December “to reach a common understanding.”
  • Now read: Amazon: My Pre-Earnings Thoughts

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