Digital tax is poor fix for corporate tax avoidance

The HillFrance made some big news recently in the world of global taxation. It enacted a tax targeting large U.S. tech companies – including Facebook, Amazon, Google and Apple – that are earning massive global profits. For years these multinational enterprises have avoided paying corporate taxes in the U.S., thanks to shell operations in tax havens like the Bahamas and the Cayman Islands. But France is tired of seeing these companies get away with large-scale tax avoidance. It’s not just France, however. More than 20 European countries are poised to impose digital taxes on large U.S. tech companies.

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By David Morse, posted on Wednesday October 23, 2019

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