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The Crossroads of Special Operations

Saturday, May 8, 2021

How Europe’s ‘Digital Tax’ Plans Will Hit U.S. Tech Companies | Bloomberg

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France and Britain are hatching plans to tax the revenue, rather than the profit, of companies such as Facebook Inc. and Alphabet Inc.’s Google that make their sales primarily in cyberspace. They’re the first of potentially several countries in Europe implementing “digital taxes” meant to extract money from companies whose multinational earnings often escape the taxman’s grip thanks to legal loopholes and the virtual nature of their offerings. But the prospect of these laws has prompted a backlash from the U.S., which is threatening to use trade tools to retaliate.

Source: How Europe’s ‘Digital Tax’ Plans Will Hit U.S. Tech Companies | Bloomberg

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