3 days agoG20 countries push forward technology giant taxation plan
Periskopi(7 years ago)
(7 years ago)The group of ministers of the 20 most powerful countries in the world agreed on Saturday to compile joint rules that would close the gaps used by technology giants like Facebook to reduce the taxes they pay. Facebook, Google, Amazon and other major technology companies face criticism [...]
Facebook, Google, Amazon and other major technology companies face criticism for reducing the taxes they pay while directing profits and incomes in low tax countries, regardless of where their final consumer is located.
Such practices are viewed as dishonest by many. The new regulations mean higher taxes for multinational firms, but would also make it difficult for low taxes such as Ireland to attract foreign direct investment.
Britain and France have been the most powerful voices in supporting the tax on technology companies. Other way. The US, the home of these firms, has expressed concerns about Britain and France's proposals, saying they are being unfairly targeted.
In Europe, technology giants direct incomes in Luxembourg or Ireland to pay lower taxes on European users of their services.
At the beginning of this year, the world's most powerful countries agreed in principle to apply new international taxation regulations, since older ones are “preceded” from rapid advances in technology.
