EU plans new tax for tech giants up to 5 percent of gross revenues

BRUSSELS (Reuters) - The European Commission wants to tax large digital companies' revenues based on where their users are located rather than where they are headquartered at a common rate between 1 and 5 percent, a draft Commission document showed.

from Reuters: Top News http://uk.reuters.com/article/uk-eu-tax-digital/eu-plans-new-tax-for-tech-giants-up-to-5-percent-of-gross-revenues-idUKKCN1GA25X?feedType=RSS&feedName=topNews