UK chancellor announces 2% ‘digital services tax’ on tech giants’ revenues starting in April 2020

ronjor · Mar 15, 2019

Austria to introduce digital tax after failure of EU-wide plan

Reporting by Francois Murphy; Editing by Hugh Lawson March 15, 2019
Austria said in January that it would tax firms like Google, Amazon, Facebook and Alibaba 3 percent of their advertising revenue from within Austria.
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guest · Mar 18, 2019

MPs call for harsher taxes on social media giants
Social media are operating in a 'digital wild west' they say
March 18, 2019
https://www.itproportal.com/news/mps-call-for-harsher-taxes-on-social-media-giants/

The BBC is reporting that a group of MPs is advocating taxing social media companies and using those funds to research effects these digital tools have on their users.

The All Party Parliamentary Group (APPG) on Social Media and Young People's Mental Health and Wellbeing says social media are operating in “an online wild west” and has invited experts, charities, parents and young people to share any evidence they may have which would confirm their suspicions.

The group believes the company should tax social media companies 0.5 per cent of their profits to ‘fund research and draw up clearer guidance for the public”.
"And it is in this lawless landscape that our children currently work and play online. This cannot continue. As the report makes clear, now is the time for the government to take action."
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Stefan Froberg · Mar 18, 2019

xxJackxx said: ↑

What people seem to fail to understand is that these companies are going to charge more to offset the taxes. This ends up coming out of the pocket of the consumer every single time. The governments and the companies they are taxing are probably all sitting around laughing while they do this.
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Yeah, that could happen. Maybe goverments finally figured out they can't rise the VAT rates forever. Which, of course is totally unfair, arbitary tax for consumers.

What extra "value" exactly, is there when entrepreneur does transaction with client? Why does goverment need to get's it grummy hairy hands in between? There already is income tax ***

ronjor · Apr 5, 2019

France not on 'crusade' against U.S. with digital tax: finance minister

Reporting by Leigh Thomas; Editing by Hugh Lawson April 5, 2019
BUCHAREST (Reuters) - France is not specifically targeting U.S. internet giants with a planned tax on digital service companies, its finance minister said in an interview, pushing back against pressure from Washington to drop the levy.
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Daveski17 · Apr 5, 2019

xxJackxx said: ↑

What people seem to fail to understand is that these companies are going to charge more to offset the taxes. This ends up coming out of the pocket of the consumer every single time. The governments and the companies they are taxing are probably all sitting around laughing while they do this.
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This is fairly routine though, and usually the excuse large multinational companies use to increase charges. I think politicians need to be seen and observed as tackling any perceived tax evasion by large companies more than anything else. The way I see it, if they're making that much money they can afford the taxation.

xxJackxx · Apr 5, 2019

Daveski17 said: ↑

This is fairly routine though, and usually the excuse large multinational companies use to increase charges. I think politicians need to be seen and observed as tackling any perceived tax evasion by large companies more than anything else. The way I see it, if they're making that much money they can afford the taxation.
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They can afford it but don't want to pay it. Like everyone else of course and I get that But it's always going to come out of our pocket. Wouldn't want investors to lose interest if profits are down. Trillion dollar companies don't get there by wondering how they can pay more taxes. They just pass it on.

Daveski17 · Apr 5, 2019

xxJackxx said: ↑

They can afford it but don't want to pay it. Like everyone else of course and I get that But it's always going to come out of our pocket. Wouldn't want investors to lose interest if profits are down. Trillion dollar companies don't get there by wondering how they can pay more taxes. They just pass it on.
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Well, they should still pay their taxes, like everyone else.

xxJackxx · Apr 5, 2019

Daveski17 said: ↑

Well, they should still pay their taxes, like everyone else.
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No argument from me. I've heard it reported that Amazon actually gets tax credits instead of paying anything. Not to mention companies like Apple keeping their money overseas to avoid taxes. I don't get that option. They should be just as responsible in the countries they profit from. All take, no give.

Daveski17 · Apr 5, 2019

xxJackxx said: ↑

No argument from me. I've heard it reported that Amazon actually gets tax credits instead of paying anything. Not to mention companies like Apple keeping their money overseas to avoid taxes. I don't get that option. They should be just as responsible in the countries they profit from. All take, no give.
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The UK has weird tax loopholes that clever corporate lawyers can exploit. These tax loopholes are more a product of history than they are deliberate I believe. So the press include this information in their various diatribes and narratives, which in turn leads to a more public awareness of tax avoidance by multinationals, which leads to politicians being expected to be accountable to the electorate, that in its turn compels said politicians to make much noise and hot air in Whitehall about multinational tax avoidance, which then ...

... and so it goes.

guest · Apr 8, 2019

EU's Vestager says Europe must lead the way with a digital tax
April 8, 2019
https://www.reuters.com/article/us-...lead-the-way-with-a-digital-tax-idUSKCN1RK0TY

Europe needs to decide on a digital tax and should lead the way if there is insufficient consensus globally, the EU competition commissioner Margrethe Vestager, said on Monday.

“We are becoming an increasingly digital world and it will be a huge problem if we do not find a way to raise (digital) taxes,” Vestager told France Inter radio.
“The best thing is a global solution. But if we want to obtain results in a reasonable period of time, Europe must take the lead,” the commissioner added.
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ronjor · Apr 9, 2019

France’s tax on tech giants passes first vote

Romain Dillet@romaindillet 09 Apr 2019
The lower house of the French parliament has voted in favor of the new tax on tech giants without any modification. Big tech companies that generate significant revenue in France will be taxed on their revenue generated in France.
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guest · May 20, 2019

Chicago becomes first city to collect "Netflix tax"
May 16, 2019
https://www.cbsnews.com/news/netflix-tax-chicago-becomes-first-municipality-to-collect-netflix-tax/

Four years ago, Chicago imposed a 9% tax on streaming entertainment services, leading to a flurry of lawsuits. Now, the city has collected $2 million in sales tax from Sony and two online ticketing services, making it the first major city to collect such a tax successfully, Bloomberg reported.

While Chicago seems to be the first city to successfully tax streaming services, it probably won't be the last. Rhode Island's governor proposed a budget this year that includes new sales taxes on digital videos, books and music. Pennsylvania enacted a similar tax in 2016 and is set to start enforcing it this summer.
"Cities and states are beginning to experiment with this," Mark Mazur, director of the Urban-Brookings Tax Policy Center, told CBS News.
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ronjor · Jun 8, 2019

G20 agrees to push ahead with digital tax: communique

Stanley White, Jan Strupczewski June 7, 2019
FUKUOKA, Japan (Reuters) - Group of 20 finance ministers agreed on Saturday to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a copy of the bloc’s draft communique obtained by Reuters showed.
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guest · Jul 6, 2019

French lawmakers approve 3% tax on online giants
July 4, 2019
https://www.apnews.com/fd16a5f8db154b48ab5de53c62617826

France’s lower house of parliament approved Thursday a small, pioneering tax on internet giants like Google, Amazon and Facebook — and the French government hopes other countries will follow suit.
The bill aims to stop multinationals from avoiding taxes by setting up headquarters in low-tax EU countries. Currently, the companies pay nearly no tax in countries where they have large sales like France.

The bill foresees a 3% tax on the French revenues of digital companies with global revenue of more than 750 million euros ($847 million), and French revenue over 25 million euros.
France failed to persuade EU partners to impose a Europe-wide tax on online giants, but is now pushing for an international deal with the 34 countries of the Organization for Economic Cooperation and Development.
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ronjor · Jul 10, 2019

US 'concern' over French plan to tax tech giants

BBC 10 July 2019
"The United States is very concerned that the digital services tax... unfairly targets American companies," a US trade representative said on Wednesday.
The French parliament is expected to approve the new tax on Thursday.
It will target companies such as Google and Facebook and is expected to raise hundreds of millions of euros.
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ronjor · Jul 12, 2019

France’s digital tax could hurt consumers more than tech companies

Elizabeth Schulze@eschulze9 12 July 2019
France’s 3% digital tax is designed to target big tech companies like Facebook, Amazon and Google.
But some experts fear the tax could end up hurting consumers.
France argues the digital tax is a temporary measure until a broader agreement among countries is reached.
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ABaird3 · Jul 12, 2019

ronjor said: ↑

France’s digital tax could hurt consumers more than tech companies
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"Media outlet for big business warns public against taxing big business."

guest · Jul 28, 2019

France will continue with its technology tax amidst tariff threat from US
‘It’s in our interest to have a fair digital tax’
July 27, 2019
https://www.theverge.com/2019/7/27/8932831/france-technology-tax-donald-trump-wine-tax-tariffs

France’s finance minister says that it will continue to carry out a plan to tax technology firms, despite a threat of tariffs on French goods from US President Donald Trump, according to Reuters.

The bill places a 3 percent tax on technology firms that earn more than €750 million ($834 million) in global revenue and €25 million in France, and would target the revenue that those companies earn in the country. According to The Washington Post, that would affect nearly 30 companies around the world, not just firms from the United States.
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guest · Aug 2, 2019

Amazon says French digital tax will hit consumers, small firms
August 2, 2019
https://www.reuters.com/article/us-...-will-hit-consumers-small-firms-idUSKCN1US241

Amazon said on Friday it would pass on the cost of a new French digital tax to consumers and business partners, warning that the measure could make it harder for some small businesses in France to compete against foreign rivals.

“We are not in a position to absorb an additional tax based on revenue rather than profit,” Amazon said in a statement, citing tough competition in the “low-margin retail sector” and its significant investment in digital tools and services.
“We have no other option than to pass it on,” Amazon said. “We recognize that this could put small French companies at a competitive disadvantage to their competitors in other countries, as we have ... warned the authorities.”
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ronjor · Aug 13, 2019

Google, Facebook, Amazon to testify in U.S. against French digital tax

David Shepardson August 13, 2019
WASHINGTON (Reuters) - Alphabet Inc’s Google unit, Facebook Inc and Amazon.com Inc are among the companies that will testify Monday at a U.S. government hearing on the French government’s digital services tax.
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ronjor · Aug 19, 2019

Amazon is passing along costs of a new digital tax to thousands of French sellers

Elizabeth Schulze@eschulze9
Amazon is raising seller fees by 3% for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.
France’s government has said the 3% digital tax aims to level the playing field between big tech companies and local businesses.
Executives from Amazon, Facebook and Google will testify at a U.S. government hearing on the French digital tax Monday.
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guest · Aug 22, 2019

Explainer: Macron's quest for an international tax on digital services
August 22, 2019
https://www.reuters.com/article/us-...ational-tax-on-digital-services-idUSKCN1VC0VH

French President Emmanuel Macron is pressing ahead with a digital tax in France, a move U.S. President Donald Trump described as “foolishness”, and the French leader is keen to reach an international agreement on taxing big tech companies.

Late on Wednesday, Macron urged the Trump administration to help reform global corporate taxes.
Macron will seek common ground with Trump and other G7 leaders at a summit in Biarritz this weekend. Washington has expressed concern that U.S. Internet companies are being unfairly targeted.
Here is a guide to the digital tax debate. [...]
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guest · Aug 26, 2019

French, U.S. Compromise on French Digital Tax
August 26, 2019
https://www.cdrinfo.com/d7/content/french-us-compromise-french-digital-tax

French and U.S. hae reportedly reached a compromise agreement on France’s digital tax, a levy which prompted U.S. President Donald Trump to threaten a separate tax on French wine imports.
According to Reuters, the two countries will make official statements on the agreement later on Monday.

France’s 3% levy applies to revenue from digital services earned by firms with more than 25 million euros in French revenue and 750 million euros worldwide.
U.S. officials complain it unfairly targets U.S. companies such as Facebook, Google and Amazon. They are currently able to book profits in low-tax countries such as Ireland and Luxembourg, no matter where the revenue originates.
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ronjor · Sep 9, 2019

Mexico eyes sales tax on digital businesses to boost revenue

September 9, 2019
MEXICO CITY (Reuters) - Mexico is in talks to extend a sales tax to foreign online businesses so that they pay their fair share to Latin America’s second biggest economy, the government said on Monday, in a move that could affect companies like Amazon.com Inc, Uber Technologies Inc and Airbnb Inc.
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ronjor · Sep 12, 2019

Google hit with $550 million fine in France over tax probe

Annie Palmer@annierpalmer 12 sep 2019
Google has agreed to pay 500 million euros ($550 million) in France in connection to a fiscal fraud probe.
French financial prosecutors opened an investigation into the company’s tax dealings four years ago.
Google, Apple and other U.S. tech giants have long taken advantage of a loophole that allows them to report almost all their sales in Ireland, which often results in them paying little taxes in other European countries.
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