Stefan Mileschin

If we can’t, you can’t

The US government is declaring a trade war on any nation which stands up to its technology companies and insist that they pay the same levels of taxes as local companies.

The US is pressing ahead with plans to hit six nations that tax internet-based companies with retaliatory tariffs that could total $1 billion annually.

Goods entering the US could face tariffs of as much as 25 percent annually, documents published by the US Trade Representative show. The duties are in response to countries that are imposing taxes on technology firms that operate internationally such as Amazon and Facebook.

The USTR proposes to impose tariffs that would total the amount of tax revenue each country is expected to get from the US companies. The cumulative annual value of the duties comes to $880 million.

Most of this is is because efforts to replace each individual country’s digital taxes with one global standard, brokered by the Organisation for Economic Cooperation and Development has not reached an agreement yet.
https://fudzilla.com/news/52635-us-p...axing-big-tech