EU tax plan for online giants

The European Commission said it may seek to implement tax reform to raise more revenue from online giants without the backing of the US and other rich nations, in a move that could spark a new transatlantic dispute.

The EU is frustrated at how long it is taking the world’s rich nations to reach a deal on how to tax online firms like Google fairly.

These companies on average pay bills in Europe that are less than half of those of other firms.