Jump to content
The Great Escape Online Community

[Slashdot] - US Forges Ahead on $1 Billion Tariff Plan Over Digital Taxes


Admin

Recommended Posts

The U.S. is pressing ahead with plans to hit six nations that tax Internet-based companies with retaliatory tariffs that could total almost $1 billion annually. From a report: Goods entering the U.S. -- ranging from Austrian grand pianos and British merry-go-rounds to Turkish Kilim rugs and Italian anchovies -- could face tariffs of as much as 25% annually, documents published by the U.S. Trade Representative show. The duties are in response to countries that are imposing taxes on technology firms that operate internationally such as Amazon.com and Facebook. In each of the six cases, the USTR proposes to impose tariffs that would roughly total the amount of tax revenue each country is expected to get from the U.S. companies. The cumulative annual value of the duties comes to $880 million, according to Bloomberg News calculations. There have been efforts to replace each individual country's digital taxes with one global standard -- to be brokered by the Organization for Economic Cooperation and Development -- but a deal has yet to be reached. The U.S. says it's committed to the OECD process, but will maintain its options, including tariffs, in the meantime, USTR Katherine Tai said in a statement on March 26.

twitter_icon_large.png facebook_icon_large.png

Read more of this story at Slashdot.

CA3_gxnE50o

View the full article

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using The Great Escaped Online Community, you agree to our Privacy Policy and Terms of Use