Germany to Push for Binding Deal on Digital Taxation at EU December Meeting
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German Finance Minister Olaf Scholz said this week that is backing France’s proposal and would like to get a binding deal on an EU digital tax at a meeting of finance ministers this December.
It is said that European Union member states are disagreeing over a proposed EU plan to tax tech giants such as Google and Facebook on their turnover. Last March, the EU’s executive Commission proposed that member states charge 3 percent on the digital revenues of such firms which have been accused of routing profits to low tax states such as Ireland.
However, the proposal would need the support of all 28 EU states, including the low tax states which are currently opposing it.
Source: Reuters