Europe demands that Google, Amazon and Apple pay more taxes
Posted: Tue Jan 07, 2025 9:07 am
US technology multinationals such as Google, Amazon, Facebook and Apple are well established in Europe. All of these companies make huge profits that, by comparison, are far from the taxes they pay in any European country.
Europe is tired of the tax practices that these companies conveniently carry out. For this reason, the finance ministers of Spain, France, Germany and Italy have jointly signed a letter in which they intend to solve this situation .
The Spanish Luis de Guindos, the French Bruno Le Maitre, the German Wolfgang Schäuble and the Italian Pier-Carlo Padoan have sent this statement to the President of the Eurogroup , Jeroen Dijsselbloem.
According to the newspaper El País, in the letter the finance ministers have stated that Amazon, Google, Facebook and Apple do business in Europe while paying minimal amounts of taxes in any European treasury.
The document thus proposes that the President of the Eurogroup “explore options for australia phone number establishing a harmonised tax on the turnover generated in Europe by digital companies”.
The leading European countries want to address the gaps in current legislation . If this change were to occur, US multinationals would be listed on the basis of their turnover in each European country.
Apple, Facebook, Amazon and Google have now taken advantage of the ease of moving their profits from one country to another . These US multinationals have thus moved their profits to territories with lower taxes, such as Ireland .
By invoicing in Ireland, these countries pay between 10 and 20 points less in corporate tax in Spain than other taxpayers. For example, Amazon pays 865,000 euros annually in our country when it invoices more than 20 billion euros per year.
These four ministers have encouraged the rest of the European countries to join their proposal. However, the existing tax competition between them makes it difficult for this letter to come to fruition.
Europe is tired of the tax practices that these companies conveniently carry out. For this reason, the finance ministers of Spain, France, Germany and Italy have jointly signed a letter in which they intend to solve this situation .
The Spanish Luis de Guindos, the French Bruno Le Maitre, the German Wolfgang Schäuble and the Italian Pier-Carlo Padoan have sent this statement to the President of the Eurogroup , Jeroen Dijsselbloem.
According to the newspaper El País, in the letter the finance ministers have stated that Amazon, Google, Facebook and Apple do business in Europe while paying minimal amounts of taxes in any European treasury.
The document thus proposes that the President of the Eurogroup “explore options for australia phone number establishing a harmonised tax on the turnover generated in Europe by digital companies”.
The leading European countries want to address the gaps in current legislation . If this change were to occur, US multinationals would be listed on the basis of their turnover in each European country.
Apple, Facebook, Amazon and Google have now taken advantage of the ease of moving their profits from one country to another . These US multinationals have thus moved their profits to territories with lower taxes, such as Ireland .
By invoicing in Ireland, these countries pay between 10 and 20 points less in corporate tax in Spain than other taxpayers. For example, Amazon pays 865,000 euros annually in our country when it invoices more than 20 billion euros per year.
These four ministers have encouraged the rest of the European countries to join their proposal. However, the existing tax competition between them makes it difficult for this letter to come to fruition.