EU to present 'electroshock' tax plan for internet giants by March

Paris

THE European Commission will present by the end of March its plan for overhauling tax rules for internet giants, aimed at making them pay up in the countries where they earn their profits, a top official said on Sunday.

EU Economic Affairs Commissioner Pierre Moscovici told France's Radio J that his proposals would "create a consensus and an electroshock" on taxing digital economy revenues.