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Tech Giants Set to Face 3% Tax on Revenue Under New EU Plan

Tech Giants Set to Face 3% Tax on Revenue Under New EU Plan ...
metal lemon circlehead
  03/17/18
Preview of things to come
obsidian floppy principal's office keepsake machete
  03/17/18
good
racy area
  03/17/18
Hard to reconcile my hatred of shitlib taxation policies wit...
Emerald Overrated Indirect Expression
  03/17/18
LOL I would legit pull out of the EU and make the sad faggot...
Drab Space
  03/17/18
180
Beady-eyed Boistinker Business Firm
  03/17/18
so if you are a tech company that doesnt even a profit, you ...
Violent infuriating nowag market
  03/17/18
That's just fraudlies accounting.
Emerald Overrated Indirect Expression
  03/17/18
*runs an unprofitable company for a decade using VC money* ...
obsidian floppy principal's office keepsake machete
  03/17/18


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Date: March 17th, 2018 11:28 AM
Author: metal lemon circlehead

Tech Giants Set to Face 3% Tax on Revenue Under New EU Plan

By and

EU set to present proposal on digital taxation on March 21

Tax on tech companies to be based on where users are located

Large digital companies operating in the European Union, such as Alphabet Inc. or Twitter Inc., could face a 3 percent tax on their gross revenues based on where their users are located, according to a draft proposal by the European Commission.

The draft, seen by Bloomberg, was circulated on Friday and outlines how a targeted levy on gross revenues would increase the tax bill digital giants face, as the bloc seeks to raise money from an industry it says provides less than it should to public coffers. EU countries have been looking into methods to tax digital companies, including Amazon.com Inc. and Facebook Inc., in a way that captures the true value created in the region.

The commission’s planned revenue tax, which is expected to be proposed on March 21, would only represent a targeted, short-term solution. The bloc also plans to propose a more comprehensive, longer-term approach that will focus on a digital permanent establishment.

The scope of the planned tax would cover companies offering services such as advertising or the sale of user data, according to the draft prepared by the EU’s executive arm. It would also cover services provided by multi-sided digital platforms, which let users find and interact with each other and where users supply goods and services directly to each other.

Digital Revenue

The levy would cover companies that have annual worldwide total revenue exceeding 750 million euros ($920 million) and total taxable annual revenue from offering digital services in the EU above 50 million euros, according to the draft. The parameters may change until the proposal is approved.

The levy, which would be charged annually based on gross revenues, would be at a single rate across the EU of 3 percent, according to the draft proposal, although the rate, too, could change in the final version. Earlier drafts envisaged the rate somewhere between 1 percent and 5 percent.

The commission’s proposal comes as traditional taxation practices have so far failed to capture business proceeds from an industry where value added tends to be virtual rather than material and digital companies have sought to take advantage of loopholes created by uncoordinated European regulation.

Even as national governments accept that the current taxation system needs to be altered, the path forward is fraught with difficulties, with some countries warning that a new levy could discourage digital use and push customers to products outside of Europe.

Any tax proposal will need the unanimous approval of all 28 current members of the EU before turning into law, so one country alone could block it.

Other countries have argued that discussions and decisions on this issue should be tackled at a global level and with the help of the Organisation for Economic Cooperation and Development, a group that advises its 35 members on tax policy.

But a report by the OECD published on March 16 indicated that there is still no global consensus on how best to proceed with the taxation of the digital economy or on the merits of an interim solution.

(http://www.autoadmit.com/thread.php?thread_id=3921284&forum_id=2#35625553)



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Date: March 17th, 2018 11:33 AM
Author: obsidian floppy principal's office keepsake machete

Preview of things to come

(http://www.autoadmit.com/thread.php?thread_id=3921284&forum_id=2#35625571)



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Date: March 17th, 2018 12:24 PM
Author: racy area

good

(http://www.autoadmit.com/thread.php?thread_id=3921284&forum_id=2#35625707)



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Date: March 17th, 2018 12:31 PM
Author: Emerald Overrated Indirect Expression

Hard to reconcile my hatred of shitlib taxation policies with my hatred of shitlib companies that make money by spying on me.

(http://www.autoadmit.com/thread.php?thread_id=3921284&forum_id=2#35625737)



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Date: March 17th, 2018 12:33 PM
Author: Drab Space

LOL I would legit pull out of the EU and make the sad faggots use Bing or whatever TTT alternative to Facebook the commie faggots can develop.

(http://www.autoadmit.com/thread.php?thread_id=3921284&forum_id=2#35625750)



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Date: March 17th, 2018 12:35 PM
Author: Beady-eyed Boistinker Business Firm

180

(http://www.autoadmit.com/thread.php?thread_id=3921284&forum_id=2#35625766)



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Date: March 17th, 2018 12:36 PM
Author: Violent infuriating nowag market

so if you are a tech company that doesnt even a profit, you could face tax? lolz

(http://www.autoadmit.com/thread.php?thread_id=3921284&forum_id=2#35625771)



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Date: March 17th, 2018 12:36 PM
Author: Emerald Overrated Indirect Expression

That's just fraudlies accounting.

(http://www.autoadmit.com/thread.php?thread_id=3921284&forum_id=2#35625774)



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Date: March 17th, 2018 12:50 PM
Author: obsidian floppy principal's office keepsake machete

*runs an unprofitable company for a decade using VC money*

*goes public, issues stock in unprofitable company that can be used as currency*

*uses stock of unprofitable company, sold for dollars or euros, as currency to purchase companies and to pay workers*

(http://www.autoadmit.com/thread.php?thread_id=3921284&forum_id=2#35625832)