Here’s another interesting article from Itproportal titled: EU to get along with new tax strategies for technology titans
Taxing Google, Apple, Facebook, Amazon and various other technology giants has actually ended up being a expanding concern in the EU and also currently the European Commission is moving on with its digital tax obligation plans targeted at guaranteeing these large international companies pay their charges in a comparable way to traditional companies.
Pierre Moscovici, the economic commissioner for Europe, described just how today’s business tax obligation legislations remain in determined need of alteration, saying:
“Company tax obligation frameworks were conceived in a pre-internet age and are puzzled by today’s globalised and also electronic companies. That requires an essential overhaul of our business tax systems.”
Moscovici will be making proposals on a business tax overhaul following month after some EU nations have actually articulated their resistance to such reforms as they might have an unfavorable impact on their economic climates. However, any kind of reforms that are proposed by the commission would certainly be different from the OECD’s internationally coordinated tax obligation reform that has gotten the support of several EU countries.
The days when Sillicon Valley’s tech giants could run from the EU paying little to no taxes might likely soon come to an end if the European Compensation has its way.
Picture Credit Report: Jai79/ Pixabay