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EU lost up to 5.4 bn euros in tax revenues from Google, Facebook: Report

Finding is part of a report prepared by EU socialist lawmaker Paul Tang

Reuters  |  Brussels 

European Union states could have lost 5.4 billion euros in tax revenues from Google and Facebook between 2013 and 2015, according to a report of the EU lawmaker responsible for a corporate tax reform that could raise online giants' tax bill. The document, seen by Reuters, will be published on Thursday, the day before EU finance ministers begin a two-day meeting in the Estonian capital Tallinn, in which they will discuss how to increase taxes on large online businesses accused of paying too little in Europe. Digital multinationals "minimize the overall tax burden in the ...

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First Published: Thu, September 14 2017. 01:29 IST