EU offensive to tax giant tech companies called “equalisation tax” .. presented next week to the 28

robut

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France drives EU tax blitz on revenues of US tech giants

Paris and Berlin are mounting a joint offensive to tax internet giants such as Google and Amazon based on revenues generated in EU countries, a change that would wreak havoc with many technology groups’ business models in Europe.

The initiative, launched by Bruno Le Maire, French finance minister, and set to be presented to all 28 EU finance ministers next week, would overhaul national tax codes to include an “equalisation tax” for tech companies that would collect levies based on national turnover. Brussels would propose an EU-wide plan to be approved by member states unanimously.
Under EU treaties, tax measures require all members to back legal changes, meaning that Mr Le Maire would need support from low-tax countries like Ireland and Luxembourg for the initiative to become law.
So:

1. SHOULD Ireland support this new proposed “equalisation tax” for tech companies?

2. WILL Ireland support this new proposed “equalisation tax” for tech companies?

3. Does this “equalisation tax” pose a problem with this apple tax case Ireland has IF Ireland supports it?

Over to you guys ..

( A tip to read behind FT paywall. - nothing dodgy!

Copy this title into google search - France drives EU tax blitz on revenues of US tech giants - First link that appears, click it, taa daa .. it opens all article )
 


HarshBuzz

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No
No
Yes but see above
 

brughahaha

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France drives EU tax blitz on revenues of US tech giants





So:

1. SHOULD Ireland support this new proposed “equalisation tax” for tech companies?

2. WILL Ireland support this new proposed “equalisation tax” for tech companies?

3. Does this “equalisation tax” pose a problem with this apple tax case Ireland has IF Ireland supports it?

Over to you guys ..

( A tip to read behind FT paywall. - nothing dodgy!

Copy this title into google search - France drives EU tax blitz on revenues of US tech giants - First link that appears, click it, taa daa .. it opens all article )
France and Germany havent even waited for Brexit to flex their collective muscle ....no suprise ...welcome to our future ....puppet state to German and French whims

We'll probably be threatened with a hard brexit if we dont agree

This country is royally screwed in every direction
 

robut

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No
No
Yes but see above
So if Ireland does not support “equalisation tax” .. its dead in water?

And .. would France and a few other countries implement this anyway via COMMON ... I cannot remember the name of this. Where a small group of EU countries can progress with something, doesnt need all.

If this is done that way, what impact on us ..
 

razorblade

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Most definitely not do we want to drive all these companies away because thats what it will be essentially doing.
 

HarshBuzz

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So if Ireland does not support “equalisation tax” .. its dead in water?

And .. would France and a few other countries implement this anyway via COMMON ... I cannot remember the name of this. Where a small group of EU countries can progress with something, doesnt need all.

If this is done that way, what impact on us ..
They can't.
 

HarshBuzz

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Mad as Fish

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France and Germany havent even waited for Brexit to flex their collective muscle ....no suprise ...welcome to our future ....puppet state to German and French whims

We'll probably be threatened with a hard brexit if we dont agree

This country is royally screwed in every direction
Yep, isn't it wonderful being at the heart of Europe with all our friends around us!
 

robut

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From the comments at end of that article - BillH:

"Ireland has created an economy off the back of everyone else by inventing an on shore off shore tax haven - and the international snouts are in their trough... one percent tax of something is better for Ireland than 20 percent tax of the square root of naff all. The trouble is the 350 million eu citizens all suffer holes in our tax revenue so 6 million Irish can claim to be a Celtic Lion living the hi life.

The internationals, take the balance say 19 percent off to foreign shores and shareholders. Th eu would do better to stop the rot,tax on turnover, drop Ireland in the financial poo as their "financial district" fails, and then give them a handout from central funds."
 

HarshBuzz

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It's an opinion.

I reckon we have 10-15 good years left on our scamola.
 

brughahaha

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From the comments at end of that article - BillH:
Those sentiments would not be uncommon in the EU IMO ...........and are about to be put into practice
 

Congalltee

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Can Ireland veto? Or require all businesses to be taxed on revenue e.g. newspapers, tourism, car sales, wine, cheese etc
 

GDPR

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God forbid US tech companies should pay tax.

Sure that would be against nature.
 

brughahaha

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HarshBuzz

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Can Ireland veto? Or require all businesses to be taxed on revenue e.g. newspapers, tourism, car sales, wine, cheese etc
We're not the only country with cough, cough generous tax arrangements.

Hello Malta! Hi Hungary! Netherlands, good evening! Ah Luxembourg, looking well!
 

robut

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Basically a new Corporate VAT by another name?

Who will pay for that I wonder??
 

GDPR

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They do ...they just dont pay it to the French ...which upsets the French greatly
Cant Ireland refuse to claim any tax owing to us at all to make up to them if they have to pay French tax?

That would be a very nice gesture on our part.
 

Voluntary

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It's only fair that the MNCs pay tax where they do business or sell products.
As much as we need to diversify trade because of Brexit we should focus on diversifying employment etc because EU tax change is coming, if not this year then another.

Anyone surprised cases like Apple make people around Europe angry? Only very few get rich while everybody else gets nothing.
 


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