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Status:
"“If a thing loves, it is infinite.”"
(set 2 days ago)
Location: Great Britain
27,175 posts, read 13,455,286 times
Reputation: 19472
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The UK and EU are looking at bringing in a tax on all revenues rather than just reported profits in order to stop tech giants from evading tax.
Quote:
Originally Posted by City A.M
Some of the world's largest tech firms are set to face a significant tax shake-up from the UK government.The likes of Google and Facebook could see changes in the tax system that would mean a new tax on revenues, rather than profits - a smaller figure.
A Treasury minister told the BBC that the revenue tax was the "potentially preferred option" after a government review.
"At the moment [they] are generating very significant value in the UK, typically through having a digital platform with lots of users interacting with that platform," Mel Stride, the financial secretary to the Treasury, told the BBC.
In 2016, Google reported revenue of £1bn in the UK and pre-tax profit of £149m.Stride's comments follow the launch of a government consultation into potential changes to taxation of the digital economy.
It aims to examine concerns that tech giants are not paying enough tax - though firms have said they adhere to the law.
It follows a move by Brussels to push ahead with digital tax plans aimed at Apple, Google, Facebook and Amazon.
i think it's unfair to apply that only to "large digital companies."
but i dont think this is about fairness, really, it's about political points. the european public really doesn't like the U.S. tech giants, even though they use their services.
Status:
"“If a thing loves, it is infinite.”"
(set 2 days ago)
Location: Great Britain
27,175 posts, read 13,455,286 times
Reputation: 19472
Quote:
Originally Posted by neko_mimi
Fine by me. Drive the business back to the US.
The tax will be on all revenue made in a certain country or in the EU, it has nothing to do with where you operate from. The UK Government is to work with partners in the European Union and at the Organisation for Economic Co-operation and Development - which advises on global tax rules - to come to an international solution.
This is how Washington state taxes companies - on revenue, not profits.
Amazon, Microsoft and other tech companies seem willing to put up with it, albeit grudgingly undoubtedly.
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