The European Parliament is working on a new standard for taxation in Europe. One of the proposals is a new tax system for Tech Giants. Rapporteur Paul Tang (S&D) is very glad to see that France, Italy, Spain and Germany are also proposing a new digital tax. A small study by Paul Tang shows that the tax revenue loss from Google and Facebook is around 5.1 billion, in three years time.
Paul Tang (S&D): “Challenges presented by the digital economy are not addressed in the current tax system. It is time for a modern system, so Tech Giants like Google, Apple, Facebook and Amazon will pay their fair share of tax”
The Economic and Financial Affairs Council (ECOFIN) will discuss the proposal by France, Italy, Spain, and Germany on Friday.
See the rapport “EU Tax Revenue Loss from Google and Facebook” for more information.