“Britain and Germany may have missed out on a combined $1 billion in sales tax since online marketplace eBay picked a tiny Luxembourg office s its base for EU sales, a shift that lawmakers say should now be investigated. EBay, which is headquartered in San Jose, California, moved into Europe in 1999 when it established eBay International in Berne. Switzerland’s low income tax regime for foreign companies was highly beneficial for the auction site. The Swiss base also meant, initially, that the company didn’t have to charge EU customers VAT. But in 2003, Brussels changed the rules.”
http://www.reuters.com/article/2012/11/30/net-us-ebay-tax-europe-idUSBRE8AT0S720121130
Related posts:
US Pushes for Free Trade Pact with EU Despite NSA Scandal
US Government Spends Billions Reviving Cold-War Nuclear War Bunkers
Woman to pay $9,250 per song in file-sharing case
Study: Level of military substance abuse now a 'public health crisis,' Pentagon care outdated
US ramps up Iraq air strikes in support of Kurdish attack on key dam
Poland bans genetically modified maize and potatoes
Americans in Canada can face complex tax situation
TARP Audit: Housing Recipients Re-Defaulting in Alarming Numbers
China signals will cut off credit to rebalance economy
High School Student Disarms Gunman...Gets Suspended
These Vehicles Are Tons of Fun, and Good for Thwarting Road Rage
American Farm Bureau calls for end to federal ban on hemp
Tulsa: Meals on truck wheels
Janet Napolitano diverts $5 million to illegal immigrant college aid
Brazil hackers accidentally attack NASA as payback for NSA surveillance