The GAFAM, an acronym for US tech giants Google, Apple, Facebook, Amazon and Microsoft, are constantly – and wrongly – accused of not paying their taxes.
Amidst a global populist attack on “Big Tech”, the European Union has not just failed to resist, but has embraced unwarranted attacks on some of the world’s most innovative companies.
This paper explains why additional taxes on the turnover of companies with a large digital presence would be disproportionate, discriminatory and damage the European economy. They would further complicate the tax system for no obvious benefit, but substantial costs.