EU says ‘electroshock’ tax plan for Internet giants set for March

This photograph taken on September 28, 2017, shows a smartphone being operated in front of GAFA logos (acronym for Google, Apple, Facebook and Amazon web giants) as background in Hédé-Bazouges, western France. / AFP PHOTO / Damien MEYER

PARIS: The European Commission will present by the end of March its plan for overhauling tax rules for Internet giants, aimed at making them pay up in the countries where they earn their profits, a top official said. 

EU Economic Affairs Commissioner Pierre Moscovici told France’s Radio J that his proposals would “create a consensus and an electroshock” on taxing digital economy revenues.