What's happening in the world next week

chinadaily.com.cn | Updated: 2018-11-03 18:00
Share
Share - WeChat

Eurozone to discuss digital tax

European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici addresses the EU unveiled proposals for a digital tax that targets US tech giants at the European Union in Brussels on March 21, 2018. [Photo/VCG]

European Union finance ministers will discuss a watered-down proposal on an EU-wide digital tax on Nov 6, trying to persuade reticent governments to agree on the plan by the end of the year.

Under a proposal from the European Commission in March, EU states would charge a 3 percent levy on the digital turnover of large firms such as Google and Facebook that are accused of routing their profits to the bloc's low-tax states.

Britain has said on Oct 29 it would tax the revenue that online platforms such as Google, Facebook and Amazon make in the country to update a system that had not kept pace with changing digital business models. And the tax will come into effect from 2020.

Technology company chiefs have warned that a digital services tax proposed by the European Union would hinder innovation and hurt economic growth.

|<< Previous 1 2 3 4 5 6 Next   >>|
Photo
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US