Pakistan Christian TV

Breaking news and world news from Pakisthan Christian TV on Business, Sports, Culture. Video news. News from the US, Europe, Asia Pacific, Africa, Middle East, America.

The United States announces late tariffs on six countries in response to taxes targeting large technology companies

The United States announces late tariffs on six countries in response to taxes targeting large technology companies

The six countries subject to customs duty are estimated at 25% of goods valued at about US $ 2 billion, including Austria, India, Italy, Spain, Turkey and the United Kingdom. U.S. The prosecutor’s office said the extra fees could not be paid for up to 180 days. He added that the global tax system proposed by the OECD and the G-20 processes would continue to be negotiated.

Foreign governments have long complained that large technology companies such as Apple, Facebook and Google have to pay higher taxes. U.S. Based companies, including Facebook, Google and Amazon, have recently released taxes focusing on the earnings of these companies.

For example, the United Kingdom imposes a 2% income tax on social media sites, search engines and online markets, arguing that the United Kingdom deserves a share of this revenue because these companies benefit from UK-based users.

“The use of current corporate tax rules for companies operating in the digital economy has led to a mismatch between where profits are taxed and where value is generated.” The United Kingdom government said.

The U.S. response to digital service taxes reflects opposition to a discriminatory policy targeting large and successful Silicon Fence companies worldwide. In the midst of a foreign tax investigation under Section 301 of the 1974 Trade Code, the U.S. The prosecutor’s office, along with six other countries, proposed $ 880 million in new fees.

The final tariff, which will affect more than $ 2 billion on goods, includes imported goods, including shrimp, carpets, cosmetics, clothing and video game consoles.

“The United States is committed to reaching a consensus on international tax issues through the OECD and the G20,” Catherine Day said in a statement. “Today’s actions give these negotiations time to move forward, while maintaining the possibility of imposing obligations under Section 301 if justified in the future.”

See also  Europe follows Wall Street records, now ECP Mangler in the light of the Piazza Afari