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EU plans to increase taxes on digital MNCs like Google, Amazon

Proposal comes as several EU countries are negotiating with large digital companies

Reuters  |  BRUSSELS 

European Union finance ministers are set to discuss rule changes next week aimed at increasing taxes on digital multinationals such as Google and Amazon, an EU document seen by Reuters said. Online giants are facing increasing pressure in Europe over the low tax they pay, but states have often found it difficult to raise the bill because existing rules limit the taxation rights to the countries where companies are physically present. The current legal framework favours digital companies over their physical counterparts and deprives states of valuable tax revenues, the Estonian ...

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First Published: Thu, September 07 2017. 11:21 IST