France sees EU digital tax solution in 2021
GAFA group -- Google, Apple, Facebook and Amazon, please take note! ... - Continue reading
Category: Google
Facebook to pay $125 million in back taxes to France
Earlier, France had decided to take the bull named digital tax by its horns, and now it is reaping the benefits. ... - Continue reading
Tech companies rejected by top court on tax breaks
The U.S. Supreme Court refused to question a ruling that technology companies including Facebook Inc. and Google say will cost them billions of dollars in taxes by limiting deductions for stock payments to employees. The justices without comment Monday turned away an appeal by Intel Corp.’s Altera unit, which challenged… – Continue reading
UK seeks to raise £500m from digital services tax
The United Kingdom unwilling to forsake revenue generated from the digital industry. ... - Continue reading
India wants fair share of $100 billion global taxes from Google, Facebook
The digital world continues to be under the lens of the OECD as India further pushes for better 'tax collection' methodology. ... - Continue reading
Google to pay A$481.5m in major win for Australian Tax Office
Search engine giant’s settlement brings to A$1.25bn the amount collected from ecommerce players ... - Continue reading
New study deems Amazon worst for ‘aggressive’ tax avoidance
The big six US tech firms have been accused of “aggressively avoiding” $100bn (£75bn) of global tax over the past decade. ... - Continue reading
G20 finance ministers reaffirm support to tax digital companies
G20 finance ministers support taking the 'Unified Tax Framework' a notch higher - Multinational enterprises like Google, Facebook and Amazon with huge customer base to retain share of profits in concerned countries. ... - Continue reading
Africa’s problem with tax avoidance
Every year African countries lose at least $50 million in taxes — more than the amount of foreign development aid. So where is it all going and how can multinational companies be held to account? NGOs continue to raise the alarm. African countries are being cheated out of billions in… – Continue reading
Tax Netflix and other e-commerce companies, say Canadians and CRA professionals
OTTAWA, Feb. 21, 2019 (GLOBE NEWSWIRE) — The federal government needn’t worry about a consumer backlash to a sales tax on Canadians’ Netflix accounts, if newly released results from an Environics Research poll and a separate survey of Canada Revenue Agency (CRA) tax professionals are any indication, says the Professional… – Continue reading
Austria to Introduce Tax on Tech Giants With Annual Revenues Over $864Mln – Kurz
VIENNA (Sputnik) – The Austrian government will introduce a 3-percent tax on international tech giants with an annual turnover exceeding 750 million euros ($864 million), Austrian Chancellor Sebastian Kurz said on Thursday. “Europe currently does not have taxation of digital Internet giants and Austria intends to become a pioneer in… – Continue reading
Australian corporate tax takes up 20 percent: data
CANBERRA, Dec. 13 (Xinhua) — The amount of tax paid by Australia’s biggest companies has risen 20 percent in a single year, data has revealed. According to the Australian Taxation Office (ATO) ‘s corporate tax data for financial year 2016-17, which was released on Thursday, the nation’s 1,470 biggest companies… – Continue reading
EU finance ministers need to deliver: Digital companies must pay tax
When European finance ministers meet on Tuesday (4 December), they should swiftly adopt the digital service tax: a levy on turnover for very large digital firms such as Google, Apple, Facebook, Amazon, Booking and Spotify, write Udo Bullmann and Paul Tang. Udo Bullmann is president of the Socialist and Democrats… – Continue reading
US multinationals dodge $180 billion in taxes on foreign profits per year
US multinational corporations are plundering the populations of the United States and the world to the tune of trillions of dollars by driving down and evading taxes on profits booked overseas. This is the conclusion that emerges from a recent study by University of California at Berkeley economist Gabriel Zucman… – Continue reading
Britain to start taxing big internet companies
LONDON — Britain’s Treasury chief unveiled Monday a new tax on big internet companies’ revenues, insisting it is time that the global tech giants with profitable business in the United Kingdom pay their fair share for public services. Philip Hammond made the announcement as he outlined his budget, explaining that… – Continue reading
Germany urges global minimum tax for digital giants
FRANKFURT AM MAIN: German Finance Minister Olaf Scholz in an interview said he backed a global minimum fiscal regime for multinationals as Europe looks to levy tax notably on US tech giants. “We need a minumum tax rate valid globally which no state can get out of (applying),” Scholz, a… – Continue reading
IRS weighs easing tax-free spinoff rules
The Internal Revenue Service is considering relaxing the rules for companies to qualify for tax-free spinoffs — a shift that could benefit drugmakers and tech firms with promising early-stage products. The agency said Tuesday it’s looking into whether units should still be required to generate revenue before a spinoff from… – Continue reading
A Bird’s Eye View on General Data Protection Regulation (GDPR)
The General Data Protection Regulation (GDPR) is a regulation in European Law on data protection and privacy for all individuals within the European Union (EU). The EU General Data Protection Regulation (GDPR) superseded the UK Data Protection Act 1998 on May 25, 2018. Significant and wide-reaching in scope, the new… – Continue reading
EU Should Challenge Google, Apple, Facebook, Amazon Payment Systems, ECB Says
A European Union board member gave a speech criticizing the weak presence of European fintech businesses in the continent’s own market. The leader’s comments come in response to several major clashes with American multinationals over their unscrupulous practices. Yves Mersch, European Central Bank (ECB) member of the Executive Board, addressed… – Continue reading
European Leaders Press for New Digital Tax at G20 Meeting
European finance officials just wrapped up a G20 summit in Argentina where they pressed for new global rules to better collect tax on digital giants like Google (NASDAQ:GOOGL 1258.15 0.04%), Facebook (NASDAQ:FB 214.67 0.02%), and Amazon (NASDAQ:AMZN 1829.24 0.02%), among others. The European Commision is the executive (read: tasked with… – Continue reading
Australian Government planning on digitally taxing Google and Facebook
The Australian federal government has proposed a tax on digital advertising that could raise up to $200 million each year but could have serious consequences for corporate Australia. Scott Morrison, Australia treasurer, mentioned in his budget speech that the $7 billion in sales from Australians to United States owned media… – Continue reading
ITAT asks Google to pay Tax on Adwords Payments [Read Order]
In a major setback to Google India, the Bengaluru bench of the Income Tax Appellate Tribunal (ITAT) held that the payments relating to Adwords made by the Company to its parent firm Google Ireland is subject to TDS provisions in India as the same constitute ‘royalty’ under the Income Tax… – Continue reading
Senate body rejects FBR proposal to tax offshore digital services
Islamabad : Pakistan’s tax authorities on Friday informed the Senate panel that Organisation for Economic Cooperation and Development (OECD) placed one dozen action plans for making part of tax laws in Pakistan so the FBR made all-out efforts to expand its jurisdiction outside the country in line with best international… – Continue reading
EU Digital Tax Sees Opposition
BRUSSELS – Despite initial support, EU ministers are backing out of support for an international tax on digital companies. Over the weekend at a meeting of the Finance Ministers of the EU discussed the recent proposal to levy a tax on the revenues major international online businesses. The taxation of… – Continue reading
Legal notice seeking action against Google, YouTube, Facebook for ‘tax evasion’
The lawyers want the global companies to send back 10 years of unpaid taxes to Bangladesh A group of lawyers have sent a legal notice to Google, Facebook, Yahoo and YouTube, as well as several government bodies, seeking action against ‘tax evasion’ by these companies. Supreme Court lawyer Barrister Humayun… – Continue reading
Brussels raises new 3% tax on technology sales
The assessment to companies like Google, Facebook or Apple would raise 5 billion a year Google, Facebook and Apple have specialized in locating in a fictitious way their operations in microaffiliates located in territories or countries where corporate tax is low or even practically nil. And they have thus turned… – Continue reading
Facebook And Google Are The Largest Tax Catches That Jaitley Bagged In 2018
India might take the vanguard position all over the world in outlining a possible framework for taxing digital bodies that have a huge business or user base in a nation but do not have a noteworthy physical attendance there. The 2018 Union Budget has, for the initial time, cited the… – Continue reading
Amazon, Google and Facebook in line for new EU tech giant tax
SUMMARY: The European Union has come under increasing pressure from the public to force global technology companies to pay their fair share of tax. Whilst Amazon is facing renewed criticism in the US for its tax structures, with reports that will effectively play zero federal tax this year, the European… – Continue reading
Digital firms with ‘big presence’ in India will have to pay taxes here
Finance Ministry’s move under BEPS treaty will impact Google, Facebook, Amazon MUMBAI, FEBRUARY 5 Digital players such as Google, Facebook and mobile application services providers must pay taxes in India on income generated from Indian consumers even if the companies’ infrastructure is physically located abroad. According to a new proposal… – Continue reading
Amazon Agrees To A $118 Million Tax Settlement With Italy
Amazon reached a major tax settlement with Italy by agreeing to pay €100 million ($118 million) to the European country in order to put an end to an investigation of potential back taxes it owes that spanned the majority of this year. According to initial reports on the matter, Italian… – Continue reading
Thousand billions in lost tax from foreign enterprises
Vietnam has lost thousands of billions of dong in taxes as foreign enterprises, especially large-scale ones, refuse to pay based on the Double Taxation Avoidance Agreement. Massive revenue without having to pay taxes The Ho Chi Minh City Department of Taxation has recently issued an ultimatum for Uber B.V Netherlands… – Continue reading
Facebook Korea to pay tax here on ad income
Facebook has decided to start paying tax to Korea on advertising revenue earned here, bowing to mounting complaints over multinational online giants’ tax avoidance. The U.S. social media company’s decision will place other global information players such as Apple, Google and Cisco under more pressure to follow suit. They have… – Continue reading
EU competition chief Margrethe Vestager threatens Tech giants with tax reform
Europe’s fierce enforcer of competition rules is threatening tech giants with tough new rules on tax if politicians fail to come to an agreement on changes to the current system. Efforts to amend rules that would apply tax more fairly to firms which largely operate online such as Google, Amazon,… – Continue reading
Google to contest ruling on ₹1,457-cr tax demand
MUMBAI, OCTOBER 25: Networking giant Google has said it will continue its fight in a six-year-old tax avoidance case after the Income Tax Appellate Tribunal asked the company to pay ₹1,457 crore in back taxes. “We comply with all tax laws in India and pay all applicable taxes. We will… – Continue reading
Google loses 6 year battle, must pay tax on remittances made to Google Ireland
Bad news for the world’s favourite search engine. On Tuesday, the Indian tax office gained an upper hand in its six-year-long battle with Google India in a ruling that would set a precedence for some of the other multinational companies. The rift owes its origin to the arrangement and fund… – Continue reading
EU divided over radical tax reforms targeting tech giants
The EU is deeply divided over how to increase the tax take from tech giants such as Google, Apple and Amazon, who have recently come under fire for being perceived as not paying their fair share of taxes A controversial set of reforms spearheaded by French president Emmanuel Macron propose… – Continue reading
EU eyes corporate rules shake-up with law on seat transfer
The European Commission is preparing a new directive on the cross-border transfer of company headquarters, a move that could have far-reaching implications for other areas of corporate governance, including tax planning and cross-border mergers, EURACTIV has learned. With Brexit on the horizon, UK companies are busy weighing their options for… – Continue reading
Trump’s corporate tax reform plan could neuter Ireland’s advantage
President Trump on Wednesday this week announced a sketchy Republican tax reform plan that covered just 9 pages and he proposed that the headline federal corporate rate should be cut from 35% to 20%. However, there is a risk to Ireland’s low 12.5% corporate tax advantage. The average rate of… – Continue reading
U.S. companies urge EU to refrain from unilateral moves on Web tax
BRUSSELS (Reuters) – The European Union’s plans to increase taxes on digital firms risks undermining the bloc’s growth and stifle global efforts to find common solutions, U.S. companies operating in the EU said on Tuesday. Critics say online firms such as Google (GOOGL.O) or Facebook (FB.O) pay too little tax… – Continue reading
Taxmen set their sights on digital economy
KUALA LUMPUR: The taxmen of the Inland Revenue Board (IRB) and Royal Malaysian Customs Department have set their sights on the digital economy. Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah pointed out last week that some foreign-owned digital economy players like Google, Uber and Facebook are currently not… – Continue reading
EU ready to move alone on digital tax if no global deal
BRUSSELS (Reuters) – The European Commission said the EU should proceed with an overhaul of taxes on digital firms even if the rest of the rich world did not follow suit, a draft report said. The document is part of an EU push to tap more revenues from online multinationals… – Continue reading
EU Seeks a Digital Tax to Stem the ‘Bags of Money’ Lost to Loopholes
Finance ministers discuss new tax plans in Tallinn, Estonia France’s Le Maire says EU citizens ‘outraged’ by situation European Union finance ministers are developing a new way to tax digital companies such as Amazon.com Inc. and Facebook Inc. to raise money from an industry that they say provides less than… – Continue reading
Google, Facebook, And Others May Have To Pay More For EU Operations
Operations in the European Union haven’t been easy going for tech companies for quite a long time. While many European countries earlier called for strict privacy regulations and large fines on tech companies for violating them, they have now called for increased taxation for these companies for their operations in… – Continue reading
Multinational giants accused of shifting Australian revenue offshore
Four of the world’s largest companies have been under investigation by Australian tax authorities, amid new evidence from US executives about how Facebook, Google, Apple and Microsoft are shifting money to offshore tax havens. Appearing before a highly anticipated public hearing into corporate tax evasion, the executives endured questions about… – Continue reading
France Open To Negotiated Tax Settlement With Google
France intends to appeal against a recent court decision in favor of Google in a major tax avoidance case, but is open to settling the dispute outside of court, a government minister has said. In an interview with Les Echos, Minister of Action and Public Accounts, Gerald Darmanin, said that… – Continue reading
US firms’ untaxed cash more than India’s GDP
Over $2.6 trillion is held as untaxed cash in offshore accounts by top US companies like Apple, Google, IBM, Pfizer, Pepsi and Coke, McDonald’s etc. according to a report by the Washington-based Institute for Tax and Economic Policy (ITEP). This is the highest-ever hoard held offshore by American companies and… – Continue reading
Italy Says Google To Pay EUR306m To Settle Tax Disputes
Days after it emerged that Italian tax agencies were pursuing online retail giant Amazon for taxes worth EUR130m (USD142m), it was revealed that Google will pay a EUR306m (USD335m) tax settlement. The payment relates to the tax periods between 2009 and 2015 and to an old dispute concerning tax years… – Continue reading
Russia Begins Levying Google Tax
Over 100 foreign providers of electronically supplied goods and services to Russian consumers have registered to pay value-added tax on their supplies at 18 percent. The levy – dubbed the “Google tax” – came into force at the beginning of this year and is payable on a quarterly basis. Affected… – Continue reading
Corporate giants hit with $2.2b Australia tax bill
Companies including Apple, Google and BHP Billiton were grilled at parliamentary hearings on their tax structures in 2015 SYDNEY: Australia on Thursday said it had slapped seven large multinationals with a multi-billion-dollar tax bill as it pursued global firms shifting profits offshore to minimise liabilities. The companies hit with the… – Continue reading
Google reveals it paid $59.8m in UK tax
Google says it paid 36.4m (AUD59.8m) in UK corporation tax in the last financial year, as the internet firm’s operations in this country remain mired in controversy. The US company, which was revealed early last year to have done a 130m (AUD213.7m) deal with the taxman covering 10 years of… – Continue reading
