France, Germany Offer New Proposal on Digital Tax

France and Germany are seeking to salvage a proposal to tax big digital firms by offering a new one which will only focus on companies’ online advertising revenue.

French Finance Minister Bruno Le Maire said that they only want a legally binding instrument that can be adopted as soon as possible. It was noted however, that Germany had some misgivings on the 3 percent digital levy.  

The two countries will try to come to an agreement on the proposal’s text which will be submitted to other EU countries in a meeting of finance ministers in Brussels this week.  

Source: Reuters