EU details its taxes on tech companies' revenue
The European Union has vowed to counter tech companies' tax maneuvers by targeting their revenue , and it's now clearer just what that will involve. In an interview with Le Journal du Dimanche , French Finance Minister Bruno Le Maire said the EU would unveil plans to tax tech firms' revenue at a rate between "2 percent and 6 percent," most likely skewing closer to 2 percent. That may not seem like much, but Le Maire portrayed it as a "starting point." It's better to get a policy you can implement quickly than deal with "interminable negotiations," he said, adding that it can be improved later. The official EU directive would be unveiled in the "coming weeks," according to the minister. Amazon, Apple, Google, Facebook and other tech giants have been accused of using legal tricks to avoid paying taxes in European countries, such as routing profit through Ireland or even the British island of Jersey. A tax on revenue theoretica...