Brussels’ move on digital taxes raises transatlantic stakes

www.politico.eu

Europe wants to take a much bigger cut of revenue from big tech companies:

Tech giants like Google and Facebook may soon face a new tax in the EU that could deliver a major hit to their bottom line — as well as a radical shift in the way their tax bill is calculated.
According to a 12-page draft report obtained by POLITICO Pro, the European Commission wants to tax digital companies’ gross revenues at rates between 1 and 5 percent, based on where their users are located and how much advertising revenue they bring in.

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