EU Digital Levy Will Hit Thousands of Mostly EU-Based Companies

May 25, 2021, 4:23 PM

The EU’s digital levy will be broadly based so as not to discriminate against U.S. tech firms, a top European Commission tax official said Tuesday.

“What would be tabled in Europe will be entirely non-discriminatory and will affect thousands of companies, primarily European, the vast majority,” Benjamin Angel, the commission’s director for direct taxation, said at a European Economic Social Committee webinar on taxing multinationals in Europe webinar. He said the commission plans to introduce the digital levy on July 14.

The European Council, which represents member governments, approved the development of the new levy in July 2020. ...

To read the full article log in. To learn more about a subscription click here.