European nations have blasted Washington’s decision to pull out of talks on a major overhaul to the taxing of digital giants, which currently move profits into low-tax havens from the places where those profits are actually made.
The plan to impose ‘digital taxes’ on companies like Google and Facebook has been championed by the UK, France, Spain and Italy. Paris, Rome and London have already put in place national laws on how such taxation would be effected. Talks on the issue have been held under the auspices of the Organization for Economic Cooperation and Development (OECD).
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