The EU is planning a new tax for international digital companies. In a bill that is time online, it foresees a tax on digital corporations with revenues of at least 750 million euros worldwide and more than 50 million euro turnover in Europe. In conversation is a tax rate of three percent on sales. On Wednesday, Commission will discuss proposal at its meeting. A first draft had provided a tax rate of one to five percent.
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The EU’s proposal would mainly four major US corporations Google, Amazon, Facebook and Apple. They have been criticized for years because y are shifting ir profits abroad and paying hardly any taxes, but instead citizens and classical companies bear a large part of tax burden. On average, according to Commission, digital companies would only be charged with an effective tax rate of 9.5 percent or less – companies from classical economy, by contrast, were 23.2 percent. The draft states that taxation of digital companies must now be given “highest priority”.
The new tax will only be applied if no more comprehensive solution is found at international level. Wher it is actually implemented is still completely open. Numerous digital companies are based in EU Member States such as Ireland, Nerlands and Luxembourg and employ thousands of employees.
The fight against tax avoidance will also determine meeting of G20 finance ministers in Buenos Aires this weekend. This comes from guidelines of EU finance ministers for meeting. At meeting of leading economic nations, EU also wants to address fight against tax havens. Among or things, transparency rules for tax consultants should be tightened up, it was said in advance.
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The EU States had recently committed tax advisors, accountants, bankers and lawyers to contact authorities if y suspect that ir clients want to evade taxes. The new rules will apply from 2020. The OECD list of States that operate questionable tax models must be supplemented, it also says in guidelines. In addition, “defensive measures” would have to be considered.
The fight against international tax evasion has been particularly focused on revelations of so-called Paradise Papers and Panama papers. The reports had revealed complex business relationships and mailbox companies with which companies are trying to evade taxes.
