EU Panel Backs Timeline for Digital Tax as Part of Budget Plans

EU lawmakers in the European Parliament’s budget committee backed a bloc-wide charge on unrecycled plastics and called for a timetable for introducing a digital tax and financial transaction tax, among others, to help fund the EU budget.

Committee members, in a 33 to 5 vote, with 2 abstentions Tuesday, supported adoption of an EU digital levy and levies on carbon-intensive imports from 2023, a financial transaction tax from 2024, and a tax on the profits of large multinationals from 2026.

The budget committee vote is part of a process in the European ...