What you need to know
- The EU has today adopted sweeping new tax measures.
- They are designed to promote "fair, efficient and sustainable taxation."
- Measures include the automatic sharing of income and revenue data generated by sellers on digital platforms amongst member states.
The EU is today adopting a series of sweeping new tax measures, which will include increased scrutiny on the revenue and sales of digital platforms like the App Store and Google's Play Store.
In a statement released today, the EU Commission stated:
The package seeks to "boost tax fairness" by clamping down on tax abuse, curbing unfair competition, and increasing tax transparency. You can bet your bottom dollar that in the wake of Apple's massive EU tax ruling earlier today, the timing of this announcement is not a coincidence.
Of note to companies like Apple and Google, are proposals on administrative cooperation, extending EU tax transparency rules to digital platforms:
The proposals to revise administrative cooperation amongst member states is one of three key elements to the new tax package, and the introduction of an automatic exchange is a fundamental aspect of this. The full plan states:
The EU has previously said it is willing to move forward with the taxation of digital services with or without the cooperation of the U.S. government. The EU says the measures will "help Member States be better equipped to fight tax evasion, without unduly burdening platform operators."
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9