Lagging U.S. online giants, Europe calls on them to pay up

In an effort to create a fair marketplace, European leaders have called on legislation that will make US tech companies pay taxes to the European Union. Although several countries want Facebook, Google and Amazon to pay up, other countries fear that these services will not be provided if taxes are too steep. There are three different proposals on the table that can ultimately tax these companies despite not having a physical, only online presence but still do business in Europe.

Key Takeaways:

• People moan that there is no European Google, that there is no European Facebook, that there is no European LinkedIn
• but my view is that if you want those things in Europe and you want those types of companies to generate
• Others, however, say the online multinationals do not pay enough tax in the EU by re-routing profits to low-rate countries.

“French, Italian and other European leaders upped the pressure on mostly U.S. tech giants to pay their fair share of taxes in the European Union and abide by the bloc’s rules”

Read more: http://www.reuters.com/article/us-eu-summit-digital/lagging-u-s-online-giants-europe-calls-on-them-to-pay-up-idUSKCN1C429G?feedType=RSS&feedName=businessNews