TASS, 4 December. The EU Council of Economics and Finance (ECOFIN) could not reach a decision on the introduction of Corporation tax in the field of information services. The European Commissioner for economic and financial Affairs Pierre Moscovici wrote Tuesday on his Twitter page.
“Tax for digital giants: ECOFIN has not come to an agreement, but I do not give up. Tax injustice is still here, it should be corrected. EU demand still exists and needs to satisfy. Let’s continue the talks and come to an agreement by March!” — wrote the Commissioner.
As previously reported by the newspaper Financial Times, France and Germany have prepared a new version of digital tax, under which a levy of 3% will be levied only on income obtained from advertising on the Internet. Companies Facebook and Google will be included in the new version of the bill, but some other retailers, including Amazon, will not fall under its action.
In the spring the European Commission has prepared a draft digital tax that should be levied on the territory of the EU companies, including multinational operating in the field of digital technologies, the annual turnover of which exceeds €750 million First under this tax will subject American industry giants such as Microsoft, Apple, Google and Facebook, but for the introduction it needs to be approved by the EU Council and the European Parliament.
Read more •••