It is seeking responses on a "unitary tax" that would be levied on a share of digital companies' global profits, divided up between the EU countries where they operate. That would eliminate the incentive for multinationals to set their EU headquarters in low-tax states. In the short term, EU states could impose a tax on revenues from "digital activities" or services, like the sale of online ads, the document said. They could also consider a withholding tax on digital payments or a "digital transaction tax" levied on companies selling consumers' personal data, like Google or Facebook. "EU citizens, businesses and organisations interested in the evolution of the digital economy are welcome to contribute," the Commission said.

Source: bd News24 October 26, 2017 15:45 UTC