Starting from 1/1/2019; costing FAAG half a billion; that’s in France alone; and other EU countries will follow suit soon. https://qz.com/1498356/france-will-tax-google-apple-facebook-and-amazon-starting-jan-1/amp/
And suddenly some tech offices in France close.
Tax by itself is okay but they need to tax the net income, not revenue. It's concerning that the only value that EU seems to bring is it's ad consuming populance. What about the workers at these companies? They don't seem to have a proportionate number of developers. In any case, I don't think the tech companies mind paying the tax. That money will only get the government addicted to the money and will help increase their monopolistic position.
You didn't get it. Taxed revenue because NI is 0.
I see. Then they are turning away investment. Why would any corporation invest anything if net income is zero? Of course, there is likely some cooking of the books. But they could fix the definition of net income instead of doing this witch hunt.
Has France not learned their lesson lately regarding imposing new taxes?
FAAG is really talking it up the ass, with taxes
All the EU does is take, take, take.... they passed and enacted their bullshit GDPR legislation earlier this year only for that to immediately allow them to penalize Facebook and Google for billions of Euros. I hope the Brits can pull off Brexit. How can anyone sit by and tolerate this? Behind the EU is really just a bunch of cranky old leftist political academic Germans running all of Brussels... nobody signed up for this. Seriously, fuck the EU and your anti-business ways. They really are doomed...
GDPR is completely different. It’s purpose isn’t to tax.
You can call it anything you want. It’s all about revenue, revenue, revenue...
GAFA is way better than FAANG. Time to drop the N
France is such a crap country. High taxes, lazy people, dirty streets (in Paris). Fun for an expensive vacation and not much else
Actually, France and EU are not alone. The global market is just becoming more unfriendly for FAAG... More to come! https://www.wsj.com/amp/articles/countries-push-digital-taxes-on-tech-giants-1540742400
They basically tax success because they want less of it ...
Taxing success because they take it for granted as they have in recent modern memory... just like the US shoveled trillions of dollars (in today’s value) into Europe after WW2 for the Marshall Plan to develop industry. Or how the US has compensated for other NATO member states’ missed contributions for the sake of Western European security.
EU is doomed
Definitely. Without YouTube and Facebook their kids might grow up smart ...