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Politics – Tax plans for Internet giants in EU controversial News

Saturday, September 16th, 2017 | Economy

"We should be very careful," said Danish Finance Minister Kristian Jensen on Saturday at an EU meeting in Estonian Tallinn. There is a risk that Europe could be fooled by innovative initiatives. Jensen's Luxembourg colleague, Pierre Gramegna, also expressed skepticism and urged a worldwide agreement. It was not a good idea for Europe to take the initiative alone, Gramegna said.
The theme will be on the second day of the informal meeting of EU finance ministers in Estonia. Germany and France are leading a group of almost a dozen EU countries looking for ways to tax more heavily. European politicians accuse US companies of not paying enough tax in the EU. Instead, the profits would be redirected to countries such as Ireland and Luxembourg, which have very low tax rates. Often the companies are even showing red figures despite the booming business, using complex business and tax structures. France therefore wants to collect part of the sales of the companies.
"The digital economy should be taxed as much as the rest of the economy," said EU Economic Commissioner Pierre Moscovici. Estonia, which currently holds the EU Presidency, praises another solution and does not want to tax online companies in their physical location, but in their digital. The proposals will be discussed at the EU's digital summit on 29 September in Tallinn.
(Reuters)

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