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What Every Tech Company Should Know About Europe’s Digital Services Tax

The UK and the EU are eyeing big scores by drafting new tax laws aimed at tech companies, but Washington, and some Euro businesses are crying foul.

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A Tax Before The Tax

The European Commission also has a second tax plan that if passed would go into effect immediately. It calculates this one could cost tech companies $5.6 billion (5 billion euros) and would apply to digital activities that “escape the current tax framework entirely.”

It would apply to money created from selling online advertising space; digital intermediary activities that allow users to interact with other users, and which can facilitate the sale of goods and services between them; and the sale of data generated from user-provided information.

This 3-percent tax could be collected by any members state in which the company has users. However it would only apply to those businesses with worldwide revenues of $850 million (750 million euros) and EU revenue of $56 million (50 million euros).

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