The UK should get behind the EU's radical tax plan for tech firms | Nils Pratley

The proposed local revenue tax, intended to operate until an international solution can be agreed, deserves support

Radical stuff from the European commission: it is proposing a tax on the revenues of large digital companies operating in the EU, to be levied at 3%. The idea breaches the basic principle that corporate taxes should be charged on profits, not turnover, and thus will cause conflict with the US and probably a few EU countries too. But Brussels deserves support.

No measure to date has halted the massive under-taxation of global technology firms. A crude local revenue tax, intended to operate until an international solution can be agreed, is better than the current state of affairs.