U.S. Tech Giants in EU Crosshairs as Tax Clampdown Takes Shape
- European Commission unveils its plans on taxing digital firms
- Commission seeks to proceed even without global consensus
Vestager Says EU Could Back Date Fines Against Google
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The European Commission outlined different options for taxing digital companies as the 28-nation bloc seeks to raise money from an industry that it says provides less than it should to public coffers.
Europe’s current tax rules were designed for the traditional economy and don’t capture companies’ activities based on intangible assets and data, the commission said on Thursday in an emailed statement.