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[chadskin]

France is working with Germany and other partners to plug loopholes that have allowed U.S. tech giants like Alphabet Inc.’s Google, Apple Inc., Facebook Inc. and Amazon.com Inc. to minimize taxes and grab market share in Europe at the expense of the continent’s own companies.

France will propose the “simpler rules” for a “real taxation” of tech firms at a meeting of European Union officials due mid-September in Tallinn, Estonia, French Finance Minister Bruno Le Maire said in an interview in his Paris office on Friday, complaining that Europe-wide initiatives are proving too slow.

“Europe must learn to defend its economic interest much more firmly -- China does it, the U.S. does it,” Le Maire said. “You cannot take the benefit of doing business in France or in Europe without paying the taxes that other companies -- French or European companies -- are paying.”

The push reflects mounting frustration among some governments, regulators and, indeed, voters, at the way international firms sidestep taxes by shifting profits and costs to wherever they are taxed most advantageously -- exploiting loopholes or special deals granted by friendly states.

The European Commission last year ordered Apple to pay as much as 13 billion euros ($15.3 billion) plus interest in back taxes, saying Dublin illegally slashed the iPhone maker’s obligations to woo the company to Ireland. Apple and the Irish government are fighting the decision.

https://www.bloomberg.com/news/arti...plan-crackdown-on-tax-loopholes-used-by-apple

 

[Herne]

Good on them. Meanwhile, in Ireland...

 

[andythinkpad]

At lease more predictable than monopoly fines.

 

[antonz]

Seems like a Win-Win for EU and US. EU gets too aggressive in taxation and Companies may start bringing more money back home.

 

[Xando]

“Europe must learn to defend its economic interest much more firmly -- China does it, the U.S. does it,” Le Maire said. “You cannot take the benefit of doing business in France or in Europe without paying the taxes that other companies -- French or European companies -- are paying.”

About time to crack down on these companies thinking they can do what they want.
Need to get Ireland and Luxembourg on board tho

 

[Kthulhu]

I wish we would do something like this here.

 

[Wanchan]

I hope this works, tired to see all the US companies I join forcing me to relocate to "offices" in Ireland or Luxembourg.

 

[Occam]

Excellent. These corporations think they are above the law.

 

[Caayn]

Will this work without tax havens such as Ireland and Luxembourg on board?

 

[kirblar]

Seems like a Win-Win for EU and US. EU gets too aggressive in taxation and Companies may start bringing more money back home.

Yup. Getting rid of tax havens is sorely necessary.

 

[RinsFury]

Good. These corporations owe billions of dollars.

 

[Living the Dream]

Good. Tired of Apple proclaiming to be a self righteous company when they're all about scamming companies out of their taxes.

 

[hydrophilic attack]

good

 

[Nintendo's Witch]

Excellent initiative.

 

[DiipuSurotu]

Good

Spoiler

luck

 

[entremet]

Excellent. These corporations think they are above the law.

These are laws they are following? Blame the jurisdictions for allowing loopholes.

There is no scam here.