Posted on 03/04/2018 3:22:22 PM PST by Olog-hai
The EU will soon unveil a plan for taxing major internet companies like Amazon and Facebook by imposing a levy of two to six percent on revenues in every country where they operate, French finance minister Bruno Le Maire said on Sunday.
“The range will be from two to six percent, but closer to two than to six,” Le Maire told the Journal du Dimanche newspaper.
The European Commission has said it will present by end March an overhaul of its tax rules, which currently allow US digital economy giants to report their income from across the bloc in any member state.
That leads them to pick low-tax nations like Ireland, the Netherlands or Luxembourg, depriving other nations of their share of the revenue even though they may account for more of a company’s earnings.
“The heads of these companies know themselves that this system can’t continue,” Le Maire said. …
(Excerpt) Read more at thelocal.fr ...
All these liberals and socialists have to find a way to tax the internet to siphon off more money. They will go where the money is.
So amazon raises its prices in these nations to compensate, and the people wind up paying the tax. Boy they really showed amazon didn’t they. Hey why did my cat food go up a euro?
How is that antigun Obama socialism working for yah Zuckerberg?
Apple went to the Republic of Ireland to offer making a physical and employee investment in a high unemployment section of their country in return for tax incentives. Ireland said YES as it would be good for their entire economy. Now the EU (Ireland is a member) says that is a NO-NO and is forcing both parties to change the deal. What did Machiavelli say about the gratitude of Princes?
Exactly the correct solution. The tax should be itemized on each item sold and held in an interest bearing account until it's time to remit the principal. The EU customers can target their ire at the correct entity that way.
Corporations don't pay taxes...they collect them.
The EU government sux, but FB and Amazon deserve this.
They may speak different languages but they all believe that whatever you earn is rightfully theirs and they take all they can.
Then, when they return some of their loot to the private sector in the form of handouts to the lazy and shiftless, they pat themselves on the back
and give each other medals and rewards for being such great and selfless humanitarians.
So amazon raises its prices in these nations to compensate,If a business can simply raise their prices "to compensate" what's stopping them from raising them for no reason anytime they want?
The simple truth is they can't
What really happens if they raise prices for whatever reason is sales/profits are reduced.
The false notion that corporations/businesses don't pay taxes can also be used for employees. You can't just raise prices "to compensate" any more than an employee can get more pay "to compensate" for a tax increase.
“Progressive” tech companies being taxed by their EU globalist overlords ?
Gee, that’s too bad !
I think the EU needs to retaliate against the US Steel tariffs via taxes and tariffs on Hollywood, Wall Street, AMZN, FB, TSLA, TWTR, GOOG, APPL... and all the rest of these elite liberal douchebags !
“but FB and Amazon deserve this.”
the EU isn’t so much slapping down the likes of FB and amazon (and many others), but slapping down micro-nation Luxemburg’s tax-haven scam that’s screwing the rest of E.U.
Yeah, just pass on the additional cost to their idiotic citizens... Whatever.
And they are b!tching about tariffs? They are technological moochers of the worst kind.
Importing hordes of homicidal savages is expensive, so naturally, taxes have to go up to pay for it.
Don’t fall for the “tax haven” rhetoric. The EU in particular is all about Tobin taxes.
Thanks Olog-hai.
They’ll raise their prices some, but their competitor’s prices aren’t going up, so they will be limited in how much they can pass on.
Bingo - that meme is used on conservative blogs/finance articles way too much. The same is true the opposite way as well. The big tax cut windfall for businesses in the US this year will not lead to massive deflation just because their costs have come down. It’ll simply lead to mostly increased profits with some going to employees, some to management, and some in price concessions.
Sutton’s Law.
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