The EU Finance Ministers have put forward an interesting proposal that could definitely have Google and Facebook seeing red…and green. At the finance minister summit on Saturday the Estonian capital of Tallinn, France and Germany urged the bloc partners to consider an emergency tax bill. This tax bill will force internet companies to pay taxes in every country where they earn revenue, rather than in only locations where they book profits. At the moment, most of the internet giants have EU headquarters in strategically placed low-tax states like Ireland and Luxembourg. Most of these offices post little or no profit and sometimes they even claim a loss. But, if they had to instead pay taxes in every country where they have revenues, this would be a game changer.
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