Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Apple    AAPL

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Britain to consider taxing digital giants' revenue

share with twitter share with LinkedIn share with facebook
share via e-mail
03/13/2018 | 06:25pm CEST
The Google logo is seen at the

LONDON (Reuters) - Britain said it was considering taxing the revenues of internet companies like Facebook (>> Facebook) and Google (>> Alphabet) until international tax rules are changed to cope with digital firms that can shift sales and profits between jurisdictions.

LONDON (Reuters) - Britain said it was considering taxing the revenues of internet companies like Facebook and Google (>> Alphabet) until international tax rules are changed to cope with digital firms that can shift sales and profits between jurisdictions.

Finance minister Philip Hammond said on Tuesday he had published a paper setting out proposals for taxing global digital firms before a meeting with his G20 counterparts later this week.

Big internet companies have previously paid little tax in Europe, typically by channeling sales via countries such as Ireland and Luxembourg, which have light-touch tax regimes.

The European Union has proposed taxing tech giants between 1 and 5 percent of revenue based on where users are located, according to a draft Commision document seen by Reuters last month.

The tax should apply to companies selling user-targeted online ads or providing advertisement space, with revenues above 750 million euros ($922 million) worldwide and with EU digital revenues of at least 10 million euros, according to the document.

Both Google and Facebook have changed the way they account for their activity in Britain, resulting in a rise in corporate tax paid.

But Facebook UK's tax charge for 2016, for example, was 5.1 million pounds ($7.09 million), only a modest increase on the 4.2 million pounds level in 2015. Its revenue in Britain in 2016 was 842 million pounds.

"In the autumn we published a paper on taxing large digital businesses in the global economy and today we follow up with a publication that explores potential solutions," Hammond said when he delivered an update on the government's finances.

Late last year the government also raised the possibility of imposing new taxes on tech giants unless they do more to combat online extremism by taking down material aimed at radicalising people or helping them to prepare attacks. Britain suffered a series of Islamist attacks last year that killed a total of 36 people, excluding the attackers.

The government said on Tuesday it favored reforming the international corporate tax framework, but acknowledged that achieving consensus and creating detailed proposals would be difficult.

"In the absence of such reform, there is a need to consider interim measures such as revenue-based taxes," it said.

Any changes would have to be targeted to protect start-ups and growth companies, it said, but it was clear that there was a challenge that needs to be solved.

"The current misalignment between where digital businesses are taxed and where they create value threatens to undermine the fairness, sustainability and public acceptability of the corporate tax system," it said, adding that it intended working closely with the EU and international partners on the issue.

TechUK, a group representing more than 950 tech firms, said corporate tax was highly complex, and the government needed to consider the risk of unintended consequences that could result from moving to a revenue-based tax approach.

"However, it remains the case that international cooperation and coordination are key," it said. "Unilateral action in this area continues to risk cutting across international efforts at the OECD."

Britain's Association of Chartered Certified Accountants (ACCA) said a revenue-based option would be "extremely unwelcome".

"We should work with the OECD and work up a properly agreed global solution," said ACCA's head of taxation Chas Roy-Chowdhury. "A fully engineered solution rather than an half-baked idea should be the way forward."

Britain also said on Tuesday it would consult on a new mechanism for collecting value-added-tax (VAT) for online sales.

($1 = 0.7196 pounds)

(Reporting by Paul Sandle and James Davey; editing by David Stamp)

By Paul Sandle

Stocks treated in this article : Apple, eBay, Facebook, Amazon.com, Alphabet
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET -0.01% 1169.29 Delayed Quote.11.00%
AMAZON.COM -0.84% 1715.67 Delayed Quote.46.70%
EBAY 0.21% 38.09 Delayed Quote.3.82%
FACEBOOK 0.12% 201.74 Delayed Quote.14.33%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on APPLE
03:44pAPPLE : promises fix for faulty 'butterfly' keyboards
02:33aAPPLE : Remember Apple's upcoming wireless charger? It's coming soon, says repor..
02:24aAPPLE : Sticky Keyboard Triggers Offer For Free Repairs
06/21APPLE : An Application for the Trademark "MEMOJI" Has Been Filed by Apple
06/21Washington's 'capricious' trade actions will hurt U.S. workers, China warns
06/21Fiat slams EU regulators for acting as supranational tax body
06/21What trade war? FAANGs scale new highs
06/21XIAOMI : A Chinese startup out to challenge Google, Amazon
06/21APPLE : There’s chance China might adopt hard-line approach targeting Dow ..
06/21China could strike back at Dow-listed firms over trade - Global Times
More news
News from SeekingAlpha
08:49aSTOCKS TO WATCH : More Trade Tiffs And Stress Tests 
07:25aINTEL : The 3 Failures Of Brian Krzanich, Part 1 
06/224 Myths About Alphabet To Squash Right Now 
06/22ProSnap, GoFace, Or iGo Coming Soon? 
06/22GOOGLE VS. APPLE : There Is A Clear Winner 
Financials ($)
Sales 2018 261 B
EBIT 2018 69 275 M
Net income 2018 57 755 M
Finance 2018 133 B
Yield 2018 1,46%
P/E ratio 2018 16,09
P/E ratio 2019 13,99
EV / Sales 2018 2,97x
EV / Sales 2019 2,95x
Capitalization 909 B
Duration : Period :
Apple Technical Analysis Chart | AAPL | US0378331005 | 4-Traders
Technical analysis trends APPLE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 200 $
Spread / Average Target 8,0%
EPS Revisions
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer, SVP & VP-Human Resources
Kevin M. Lynch Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
APPLE9.27%908 907
HP INC11.95%38 330
NOKIA OYJ30.20%33 273
MEITU INC--.--%3 805
INTOPS CO LTD--.--%135
DORO AB-6.87%109