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The European Union is formulating a plan in which Amazon, Google, and other tech giants would “face a 3 percent tax on their gross revenues based on where their users are located.” The EU feels that these companies should be giving more back due to the profit they are making from its countries and citizens.
The scope of the planned tax would cover companies offering services such as advertising or the sale of user data, according to the draft prepared by the EU’s executive arm. It would also cover services provided by multi-sided digital platforms, which let users find and interact with each other and where users supply goods and services directly to each other.
The scope of the planned tax would cover companies offering services such as advertising or the sale of user data, according to the draft prepared by the EU’s executive arm. It would also cover services provided by multi-sided digital platforms, which let users find and interact with each other and where users supply goods and services directly to each other.