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

ronjor · Sep 16, 2019

Apple takes fight against 13-billion-euro EU tax order to court

Foo Yun Chee September 16, 2019
LUXEMBOURG (Reuters) - Apple will launch a legal challenge on Tuesday to a European Commission order to pay 13 billion euros ($14.4 billion) in Irish back taxes in a landmark case in the EU’s crackdown on tax avoidance by multinational companies.
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guest · Sep 28, 2019

EU ready to act alone on digital tax if no global deal in 2020
September 27, 2019
https://www.reuters.com/article/us-...l-tax-if-no-global-deal-in-2020-idUSKBN1WC15D

European Union commissioners-designate said the bloc should agree on a digital tax if no deal on the matter was reached at a global level by the end of next year, ramping up pressure on multinationals accused of paying too little.

The commissioner-designate for taxation, Paolo Gentiloni, echoed her comments, saying he would seek to prevent individual EU governments from being able to veto decisions on tax matters - a handful of EU states last year opposed a bloc-wide agreement on the digital tax.
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guest · Oct 14, 2019

Italy readies "web tax" in its 2020 budget -sources
October 14, 2019
https://www.nasdaq.com/articles/italy-readies-web-tax-in-its-2020-budget-sources-2019-10-14

Italy is readying a new tax on digital companies in its 2020 budget, as it seeks alternative revenues that will allow it to scrap a scheduled increase in sales tax, two coalition sources told Reuters on Monday.

The levy will oblige multinational web-based giants to pay a 3% levy on internet transactions, the sources said, adding that some changes were possible due to ongoing negotiations among the ruling parties.
The scheme is expected to yield around 600 million euros each year, and will apply to companies with annual global revenues worth at least 750 million euros and digital services exceeding 5.5 million euros in Italy.

The new scheme will take effect from January, sources said. It will operate under a "self-assessment taxation regime" by which the companies submit a calculation of the amount owed. This will be subject to possible checks by the Italian authorities.
If the European Union manages to introduce common rules for a web-tax covering the whole 28-nation bloc, Italy will adjust its own plan accordingly, they added.
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ronjor · Nov 15, 2019

U.S. trade groups raise alarm over Canadian digital services tax

November 15, 2019
WASHINGTON (Reuters) - More than a dozen U.S. trade groups and the U.S. Chamber of Commerce on Friday urged the Trump administration to block a French-style digital services tax proposed by Canadian Prime Minister Justin Trudeau during October’s election.
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ronjor · Nov 18, 2019

Czechs to impose 7% tax on global internet giants

Nov. 18, 2019
PRAGUE (AP) — The Czech government has approved a plan to adopt a tax on internet giants like Google, Amazon, Facebook and Apple.
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guest · Nov 28, 2019

U.S. to announce findings from probe of France's tech tax on Monday
November 27, 2019
https://www.reuters.com/article/us-...e-of-frances-tech-tax-on-monday-idUSKBN1Y11Y4

U.S. trade officials said they will announce any proposed action toward France on Monday when they release the findings from their investigation into the European ally’s tax on big internet companies such as Amazon, Google and Facebook.

“The United States Trade Representative is in the process of completing its investigation ... of France’s Digital Services Tax,” the USTR’s office said in a statement on Wednesday, adding that it “will announce any proposed action in the investigation” on Monday.
France and the United States have been embroiled in a trade dispute over France’s planned 3% levy on digital services revenue on certain companies [...] It was not immediately clear what action the United States might take or what the report’s findings would show.
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ronjor · Dec 1, 2019

Microsoft hit by $25 million “tax adjustment” in New Zealand

by Surur 02 Dec 2019
Technology companies are coming under increasing scrutiny for complex tax avoidance practices, and Microsoft has not innocent of the practice, having in the past been accused of funnelling £8 billion of revenue to Ireland since 2011 and thereby avoiding £100 million in UK corporation tax.
Now the company has had to pay $24,748,658 to the New Zealand Inland Revenue as part of a settlement for business it conducted before June last year.
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hawki · Dec 2, 2019

mood said: ↑

U.S. to announce findings from probe of France's tech tax on Monday
November 27, 2019
https://www.reuters.com/article/us-...e-of-frances-tech-tax-on-monday-idUSKBN1Y11Y4
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US Threatens 100% Tariffs On $2.4 Billion In French Goods Including Champagne Over Digital Tax

"White House considering tariffs of up to 100% on $2.4B of French goods

The Office of the U.S. Trade Representative announced on Monday that it is considering tariffs as high as 100% on up to $2.4 billion worth of French products, following an investigation that concluded France's digital tax discriminates against U.S. digital companies, such as Google, Apple, Facebook, and Amazon.'..."

https://www.axios.com/trump-tariffs-france-760839cf-9e4e-4f50-bcd7-8dc0a9732669.html

ronjor · Dec 18, 2019

Google settles 'longstanding' tax dispute with Australia

December 18, 2019
SYDNEY (Reuters) - Alphabet Inc’s Google has settled a “longstanding” tax dispute with Australia’s tax office, it said on Wednesday, after paying an extra A$481.5 million ($326.75 million) on top of its previous tax bill.
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guest · Dec 27, 2019

After France, Italy approves digital tax on tech giants
December 25, 2019
https://tech.economictimes.indiatim...-approves-digital-tax-on-tech-giants/72968976

Following the footsteps of France, Italy has approved a new tax to be levied on large tech companies, a move that is likely to put more strains on the country's relations with the United States.

Passed this week by Italy's Parliament, the new tax will come into force on January 1, the Wall Street Journal reported on Tuesday.
The tax is similar to the one France implemented earlier this year which has attracted severe criticism from the US.

The digital tax approved by Italy's Parliament will impose a 3% levy on some digital revenue for technology companies that make over $831 million in global revenue, including least $6 million in Italy.
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ronjor · Dec 31, 2019

Google will finally stop using controversial Irish and Dutch tax loopholes

By Zoe Schiffer@ZoeSchiffer Dec 31, 2019
Regulations will end the ‘Double Irish’ and ‘Dutch sandwich’ tax scheme
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guest · Jan 6, 2020

France warns U.S. against digital tax retaliation
January 6, 2020
https://in.reuters.com/article/fran...against-digital-tax-retaliation-idINKBN1Z50QZ

French Economy Minister Bruno Le Maire warned the United States on Monday that any retaliation to France’s new digital services tax could “deeply and durably” damage relations.

Washington has threatened to impose duties of up to 100% on imports of champagne, handbags and other French products worth $2.4 billion after a U.S. government investigation found the French tax would harm U.S. technology companies.

“If the Americans decide to go ahead and impose sanctions against the digital tax ... in this case we would retaliate,” Le Maire told France Inter radio.
Le Maire said he had sent a letter on the issue to U.S. trade negotiator Robert Lightizer and was also going to discuss it with U.S. Treasury Secretary Steven Mnuchin by phone.
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guest · Jan 8, 2020

France, US To Attempt Digital Tax Agreement In Two Weeks
January 7, 2020
https://www.silicon.co.uk/e-enterprise/fund-raising/france-us-digital-tax-agreement-two-weeks-327527

The digital tax dispute between the United States and France has been given a tight deadline for the two sides to reach an agreement.

Now France and the United States have given themselves two weeks to try to resolve a row over a French digital tax, French Finance Minister Bruno Le Maire was quoted as saying by Reuters on Tuesday.

“I had a long talk with US Treasury Secretary Steven Mnuchin. We have decided to step up efforts to try and find a compromise, within the OECD, on digital tax,” Le Maire told reporters after a meeting in Paris with EU Trade Commissioner Phil Hogan.
“This is a more general issue between the United States and Europe,” Le Maire said, stressing other EU nations were planning their own national digital taxes.
He also confirmed any international agreement on digital taxation would immediately supersede the French tax.
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guest · Jan 18, 2020

France tells U.S.: back a global digital tax or risk others going solo
January 17, 2020
https://finance.yahoo.com/news/france-tells-u-back-global-141557989.html

The United States risks a proliferation of national taxes on tech giants if President Donald Trump rejects new international rules for taxing digital companies at next week's World Economic Forum, the French government said on Friday.

Finance Minister Bruno Le Maire wants a U.S. commitment in Davos to the international tax reform and is also pressing Washington to lift a threat of tariffs on French champagne, cheese and luxury handbags made in retaliation against France's own digital tax.
Agreement was close on a universal tax proposal drawn up by the Organisation for Economic Cooperation and Development, Le Maire said, but Washington needed to take the "last step" to reach a compromise.
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guest · Jan 20, 2020

EU industry chief: EU ready to act on digital tax, if OECD fails
January 20, 2020
https://www.reuters.com/article/us-...ct-on-digital-tax-if-oecd-fails-idUSKBN1ZJ0TO

European industrial policy chief Thierry Breton said on Monday that if discussions at the OECD level on taxation for digital companies such as Amazon (AMZN.O) or Google GOO.O do not bear fruit, the European Union will take action.

“I do not know any optional voluntary tax... On the big digital players, this is obviously not an option,” Breton told a news conference. “If it cannot be reached, we would take up the issue at the level of the Commission,” he added.
Breton added that European countries, which had failed to agree on a digital tax earlier, were now on the same line.
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guest · Jan 21, 2020

mood said: ↑

France, US To Attempt Digital Tax Agreement In Two Weeks
January 7, 2020
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Talks on tech tax with U.S. still difficult - France's Le Maire
January 21, 2020
https://in.reuters.com/article/eu-e...till-difficult-frances-le-maire-idINKBN1ZK0U4

Talks between France and the United States on taxing digital companies “remained difficult”, French Finance Minister Bruno Le Maire said on Tuesday, despite a pledge by the two countries to avoid a trade war until at least the end of this year.

But in a surprise move on Monday, French President Emmanuel Macron said he had a “great discussion” with U.S. President Donald Trump over the issue and said the two countries would work together to avoid a rise in tariffs until the end of 2020.
Le Maire said the truce agreed by the two presidents was a “very positive starting point” but now Paris and Washington had to reach a compromise on how to tax digital activities at global level.

“It remains a difficult negotiation. The devil is in the details, and on many details we still need to find a common ground, but I think we are moving in the right direction,” [...]
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ronjor · Jan 31, 2020

Governments launch rewrite of international tax rules

January 31, 2020
PARIS (Reuters) - Nearly 140 governments have agreed to launch a rewrite of decades-old cross-border tax rules for the digital age over the coming months, the Organization for Economic Cooperation said on Friday after talks this week in Paris.
The rise of Amazon (AMZN.O), Facebook (FB.O) and Google (GOOGL.O) has strained existing rules to breaking point because big tech companies can book profits in low-tax countries like Ireland no matter where their customers are located.
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Daveski17 · Jan 31, 2020

Rich corporations evading taxes, surely not?

guest · Feb 14, 2020

Zuckerberg ‘accepts’ that Facebook may have to pay more tax in Europe
February 14, 2020
https://venturebeat.com/2020/02/14/...-facebook-may-have-to-pay-more-tax-in-europe/

Facebook Chief Executive Mark Zuckerberg accepts that global tax reforms mean it may have to pay more taxes in different countries, excerpts of a speech he is due to deliver in Germany on Saturday show.

Cross-border tax rules are set to be rewritten after 137 states sought last month to avoid a new trade war over the global multiplication of taxes on digital services, prompted by some countries preparing to go it alone.

“I understand that there’s frustration about how tech companies are taxed in Europe. We also want tax reform and I’m glad the OECD is looking at this,” Zuckerberg is expected to tell the Munich Security Conference.
Government officials agreed last month to negotiate new rules for where tax should be paid and what share of profit should be taxed, the Organisation for Economic Co-operation and Development (OECD) said.
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ronjor · Feb 14, 2020

Europe wants G20 to make taxing digital giants top priority this year

Jan Strupczewski February 14, 2020
“We need to give the highest priority to finding global solutions to address the taxation of the digital economy and the remaining Base Erosion and Profit Shifting issues,” said a document outlining the stance of all European Union members of the G20, plus Britain, which left the EU last month.
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Willy2 · Feb 14, 2020

- You mean that the british government is "cash-strapped" as well ? You don't say !

[Sarcasm off]

guest · Feb 22, 2020

Let's come together to tax tech giants, say G20 officials eyeing $100 billion boost
February 22, 2020
https://www.reuters.com/article/us-...icials-eyeing-100-billion-boost-idUSKCN20G0DD

Leading world economies must show unity in dealing with aggressive “tax optimization” by global digital giants like Google (GOOGL.O), Amazon (AMZN.O) and Facebook (FB.O), G20 officials said on Saturday.

Global rules are being developed by the Organisation for Economic Cooperation and Development (OECD) to make digital companies pay tax where they do business, rather than where they register subsidiaries. The OECD says this could boost national tax revenues by a total of $100 billion a year.
“A coordinated answer is not the better way forward, but, given the alternatives, the only way forward,” OECD head Angel Gurria told the seminar.
MORE CLARITY NEEDED
French Finance Minster Bruno Le Maire told reporters it remained unclear exactly what the U.S. proposal would entail.

“We’re still in the process of assessing what it really means,” he said, adding, “It’s not a non-starter for the French government. It’s fair and useful to give all the attention to this new proposal.”
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France ready to hear U.S. proposal on digital tax

France is ready to listen to the U.S. administration’s proposal of offering U.S. companies a “safe harbor” from a new, international digital tax, its finance minister said on Saturday, while admitting that he still didn’t know what that meant in practice.

“I’m not in a position to tell you what it (a safe harbor) really means,” Bruno Le Maire told journalists on the sidelines of a G20 summit in Saudi Arabia. “(But) it’s fair and useful to give all the attention to this new proposal.”
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guest · Mar 2, 2020

UK to consider opposition to digital tax in pursuit of U.S. trade deal
March 2, 2020
https://in.reuters.com/article/uk-b...ax-in-pursuit-of-u-s-trade-deal-idINKBN20P1O2

Britain said on Monday it would consider opposition to its plan to impose a new digital tax on big tech companies like Google, Facebook and Amazon as part of its ambition to agree a free trade deal with the United States.

Asked about the digital tax on Monday, Prime Minister Boris Johnson’s spokesman said the government’s plans had not changed.

“We set out that it’s our intention to find a global solution to this issue. That is what we’re working towards. In the meantime we have put forward proposals for a digital services tax,” the spokesman said.
France had considered a similar digital tax, but it agreed in January to suspend down payments after Washington threatened to retaliate with tariffs on French wine.
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ronjor · Mar 11, 2020

The UK’s new digital tax starts in April.

Shakeel Hashim March 11, 2020
The U.K. government has confirmed that it will levy a 2% tax on "the revenues of search engines, social media services and online marketplaces which derive value from U.K. users" starting from April 1.
Companies with global revenue of over £500 million (or about $650 million), where more than £25 million is derived from U.K. users, will be charged the tax. The policy is strongly opposed by the U.S. government.
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ronjor · May 14, 2020

Le Maire: France to go ahead with digital tax this year regardless of international deal

May 14, 2020
PARIS (Reuters) - France will go ahead with plans to apply a tax on digital businesses this year whether or not there is an international deal on the issue, Finance Minister Bruno Le Maire said on Thursday.
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