EU Proposes Online Turnover Tax For Big Tech Firms

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The European Commission proposed rules on Wednesday to make digital companies pay their fair share of tax, with U.S. tech giants such as Google, Facebook  and Amazon set to foot a large chunk of the bill.Under the Commission’s plan, companies with significant digital revenues in Europe will pay a 3 percent tax on their turnover on various online services in the European Union, bringing in an estimated $6.1 billion. If backed by EU states and lawmakers, whose support is far from certain, the tax would apply to large firms with annual worldwide revenue above $920.9 million annual “taxable” EU revenues above $61 million. So, if the answer is yes, then a Tech War is coming?:)

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Well, there aren't any home grown tech giants in Europe? 

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Last bad example with FB is most dangerous thing in last few years. We need to make sure that the power of these technologies, really any technology, is never used against the people. The people must control the future, not the powerful. About tax - ok. do it EU. War on all fields..

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The final nail in the E.U.'s coffin might be that it became fat and bloated on taxpayer dollars while over-regulating to try and justify its continued existence. They have bigger problems than this, let them take thrash out from their yard first.

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That's an interesting proposal. International tax law and implications are not my center core of knowledge so I'll have to see more angles on this one, but on the surface it doesn't look like a bad start, seeing as big Tech companies hilariously underpay their taxes.

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Tax tax tax...where this world is going? Self-destruction

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EU already has 13,000 trade tariffs, many aimed against developing nations in Africa and Asia....Time for liberalization...

Edited by franco

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The EU is free to tax imports including digital goods as they see fit and place tariffs, embargos, duties and fees on not only US but any non EU technology.

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