#EU Four member states want digital multinationals like Amazon & Google to be taxed in Europe based on their revenues, rather than only profits as now, their finance ministers said in a joint letter provided to Reuters #AceFinanceDesk reports

#AceFinanceReport – Sept.11: Four EU Countries Seek Higher Taxes On Google and Amazon on incomes origin rather than net profit declared #AceFinanceDesk reports

Published on September 10, 2017 at 04:30AM Reuters: France, Germany, Italy and Spain want digital multinationals like Amazon and Google to be taxed in Europe based on their revenues, rather than only profits as now, their finance ministers said in a joint letter……France is leading a push to clamp down on the taxation of such companies, but has found support from other countries also frustrated at the low tax they receive under current international rules…….Currently such companies are often taxed on profits booked by subsidiaries in low-tax countries like Ireland even though the revenue originated from other EU countries…….”We should no longer accept that these companies do business in Europe while paying minimal amounts of tax to our treasuries,” the four ministers wrote in a letter seen by Reuters #AceFinanceDesk reports are provided by Sterling Publishing & Media News

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