Apple, Google in the Tax Cross Hairs as EU Seeks “Real Taxation”

US tech giants have long been criticized for turning to tax dodging schemes, but these tactics might come to an end later this year if a new approach that France and Germany are working on is being adopted by all members of the European Union.

Specifically, the two countries are seeking what they describe as “real taxation,” planning to adopt simpler rules that would block companies from turning to loopholes in order to avoid paying taxes, or to reduce them, in markets across the Old Continent.

It turns out that France and Germany have already discussed the possibility of revising tax regulations last month, and German finance ministry spokesman Denis Kolberg has been quoted as saying by Bloomberg that all proposals would be further analyzed after the German elections in late September.

Apple, Google, Facebook the biggest target… (read more)

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