Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
dpa

HOME > dpa

Top European parliament candidate wants tax on digital giants

January 28, 2019


Abstract : Manfred Weber, the top candidate of the European People's Party in the European parliament elections in May, believes that taxation of such digital giants as Facebook and Google must still be sought despite the failure of a first attempt to do so.

Top European parliament candidate wants tax on digital giants

Manfred Weber, Chairman of the EPP Group in the European Parliament and Member of the European Parliament, speaks on stage at the Digital Life Design (DLD) Innovation Conference. (picture alliance/Lino Mirgeler/dpa)

Manfred Weber, the top candidate of the European People's Party in the European parliament elections in May, believes that taxation of such digital giants as Facebook and Google must still be sought despite the failure of a first attempt to do so. 

"It is something we must do in order to create fairness in this new market," Weber, of Germany's conservative Christian Social Union party, told the DLD innovation conference in Munich on Monday. Digital companies continued to pay lower taxes than companies in the classic industries. The political sector needed resources in order to help support those losing out in the wake of digitalization, said Weber.

This was also an important aspect with regard to winning over the support of the people, Weber said. When he appears before an audience, many people express outrage about the different taxation levels. 

His remarks come to the backdrop of recent developments, when an attempt to introduce a digital tax in Europe fell through in December. Then, European Union finance ministers could not agree on a common position. The debate is to be taken up again this year.

The EU Commission had proposed imposing a three per cent profit tax on digital companies that have annual revenues of at least 750 million euros (850 million dollars) worldwide as well as online revenues of 50 million euros in Europe.

dpa

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.

Scan the QR code and push it to your mobile phone

Keyword: digital eu tax

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial