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EU unveils digital tax proposals
The European Commission has set out new rules to tax digital business activities in the EU.
The first initiative would reform corporate tax rules so that profits were registered and taxed where businesses have significant interaction with users through digital channels. This is the commission's preferred long-term solution and would enable member states to tax profits generated in their territory even if a company did not have a physical presence there.
A digital platform would be deemed to have a taxable digital presence or a virtual permanent establishment in a member state if:
- it exceeded a threshold of €7m in annual revenues in a member state;
- it had more than 100 000 users in a member state in a taxable year; or
- more than 3 000 business contracts for digital services were created between the...
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