Seattle levied an annual tax of about $50 million on big companies last week to help solve the city’s homeless problem. The tax was watered down from the original proposal but it was controversial and pitted the city against its most powerful corporate resident, Amazon.com Inc.
The European Union published proposals Wednesday for a 3 percent Digital Turnover Tax on the European B2B revenues of digital giants such as Google, Apple, Facebook, Amazon (termed GAFA in Europe), Uber and Airbnb.
On the last page of a nine-page tax plan that calls for slashing business rates, President Donald Trump and congressional Republicans proposed a little-noticed, brand-new tax that may hit companies like Apple Inc. and Pfizer Inc.
The European Commission will outline on Thursday 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.
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