11–20 of 314 posts
As an answer big techs will likely break these companies into 100 smaller ones to avoid the thresholds? "The levy would cover companies that have annual worldwide total revenue exceeding 750 million euros ($920 million) and total taxable annual revenue from offering digital services in the EU above 50 million euros."
Earlier quoted context omitted.
Well, tax them on the money they make from EU sales then. I hardly see why the EU has a claim on revenues made by overseas companies on non-EU citizens. How about the US levy a tax on global BMW and Benz revenues?
> I hardly see why the EU has a claim on revenues made by overseas companies on non-EU citizens. For the same reason the US government has claim on all global income of both its citizens and corporations. [1] [2] Corporations brought this on themselves by using accounting cleverness to "hide" billions in profits [3]. This is simply a regulatory response. Tech companies can choose not to operate in the EU as well. Thi…
Keyword "IT'S CITIZENS AND CORPORATIONS". The US government doesn't have a claim on all global income of companies that aren't US corporations. e.g. Alibaba.
I can't wait to see your reaction when the Chinese government asks for 3% of global revenues of Siemens.
What right does the EU have to tax revenue (not even earnings) from money made on non-EU citizens? I could understand an argument that they have a right to levy a tax on money created by selling services to EU citizens, but global revenues? They mention Twitter as an example in the article, but Twitter's revenues for 2017 was $3.83 billion, and their net-earnings is mostly negative, or barely positive. So they'd be a…
If these companies don’t want to pay tax in Europe, then don’t do business in Europe.
So this is money made from EU based users and revenue they make from them.
Earlier quoted context omitted.
> I hardly see why the EU has a claim on revenues made by overseas companies on non-EU citizens. For the same reason the US government has claim on all global income of both its citizens and corporations. [1] [2] Corporations brought this on themselves by using accounting cleverness to "hide" billions in profits [3]. This is simply a regulatory response. Tech companies can choose not to operate in the EU as well. Thi…
>For the same reason the US government has claim on all global income of both its citizens and corporations. Keyword "IT'S CITIZENS AND CORPORATIONS". The US government doesn't have a claim on all global income of companies that aren't US corporations. e.g. Alibaba. I can't wait to see your reaction when the Chinese government asks for 3% of global revenues of Siemens.
I can understand employees of US based tech companies might have strong feelings about this stance. I'd encourage reflection on taxes and how they pay for societal infrastructure.
I’m sure everyone will love it!
Earlier quoted context omitted.
> What right does the EU have to tax revenue (not even earnings) from money made on non-EU citizens? Every right. Their government, their citizens, their laws. > but global revenues? These companies exist globally. They would be vastly smaller and have far less impact if they did not have EU citizens. Network effects matter and ignoring them is choosing to not understand the big picture. > So they'd be asking Twitter…
> Every right. Their government, their citizens, their laws. If a company doesn't have offices in your country, it's not yours. >These companies exist globally Well, maybe the net result is to get out of the EU then, if the costs of 3% of global revenues exceed profits. If you don't think a company that is mostly non-profit (Twitter) shouldn't exist, I feel that's a pretty pathetic position. So you're either a very g…
If a company sells a product (ad space in this instance) in a geography they are doing business there and should pay taxes there.
As an answer big techs will likely break these companies into 100 smaller ones to avoid the thresholds? "The levy would cover companies that have annual worldwide total revenue exceeding 750 million euros ($920 million) and total taxable annual revenue from offering digital services in the EU above 50 million euros."
What right does the EU have to tax revenue (not even earnings) from money made on non-EU citizens? I could understand an argument that they have a right to levy a tax on money created by selling services to EU citizens, but global revenues? They mention Twitter as an example in the article, but Twitter's revenues for 2017 was $3.83 billion, and their net-earnings is mostly negative, or barely positive. So they'd be a…
As an answer big techs will likely break these companies into 100 smaller ones to avoid the thresholds? "The levy would cover companies that have annual worldwide total revenue exceeding 750 million euros ($920 million) and total taxable annual revenue from offering digital services in the EU above 50 million euros."
That sounds like a huge win to me. More competition is better for the market at a whole, and these 100 smaller companies will not be able to stop from competing with each other (or maybe we'll learn they just were better off as separate companies in the first place...)