Paris — The Organisation for Economic Co-operation and Development (OECD) says a proposal by leading European nations to tax the revenues of large US internet companies is at best an interim option until a global solution is found. "A tax of revenue would be an interim solution," said Pascal Saint-Amans, director of the OECD’s Centre for Tax Policy and Administration during a hearing at the French parliament. France, Germany, Italy and Spain have adopted a common position to explore options compatible with EU law to tax internet companies based on the revenues they generate in their countries. Big EU countries have become increasingly frustrated that internet companies such as Amazon, Apple, Facebook and Google escape paying much in taxes by basing and often billing their operations through low-tax EU states such as Ireland. Corporate taxes are based on profits, with each country setting its own rates, as well as the base on which the tax is calculated. Generally speaking, "taxes on...
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