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EU to propose new tax on digital firms up to 5 percent of their gross revenues

Reuters  |  BRUSSELS 

BRUSSELS (Reuters) - The European Commission wants to tax large digital companies' revenues based on where their users are located rather than where their headquarters are, at a rate between 1 and 5 percent, a draft Commission document showed.The proposal, seen by Reuters, aims at increasing the tax bill of firms like Amazon, Google and Facebook that are accused by large EU states of paying too little in tax by re-routing their EU profits to low-tax countries such as Luxembourg and Ireland.The proposal says that the tax should be applied to companies with revenues above 750 million euros ...

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First Published: Mon, February 26 2018. 22:24 IST
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