Global Tax Deal May Fit Well With EU Digital Tax, Lawmaker Says

June 1, 2021, 12:27 PM

A U.S. proposal to limit new global tax rules to the world’s biggest 100 companies would make it easier for the European Union to introduce a bloc-level digital tax, the chair of the European Parliament’s tax subcommittee said Tuesday.

The American twist represents “an easier approach than before,” and “definitely a gain,” said Paul Tang, chair of the EU’s tax subcommittee. The Biden administration in early April suggested the new approach for the Organization for Economic Cooperation and Development’s Pillar One talks, which address the taxation of profits where they are earned rather than where companies are headquartered.

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