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EU plan to raise taxes for internet firms hits snag

France wants to tax companies like Google and Facebook on their turnover, rather than profits

Francesco Guarascio | Reuters  |  Tallinn 

A European Union plan to raise more tax from digital multinationals faced the first signs of scepticism on Saturday, as smaller members of the bloc warned about the economic impact from such a move. France wants to tax companies like Google and Facebook on their turnover, rather than profits, to increase revenue from global online groups, accused of paying too little in Europe. More than a third of the EU’s 28 members backed Paris on Saturday at a meeting of EU finance ministers in Tallinn, the Estonian capital, but the move needs the agreement of all member states to ...

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First Published: Sat, September 16 2017. 23:20 IST
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