German Finance Minister Olaf Scholz (left) and French Economy Minister Bruno Le Maire address reporters at a meeting of European finance ministers in Vienna on Saturday. Under his proposal, the new tax would end once a deal is reached at a global level on the taxation of digital companies. An overhaul of digital taxation has been under discussion at the global level for a long time, but no deal is in sight as large differences remain among rich nations. EU tax reforms require the backing of all its 28 member states to be adopted. Eleven EU states are already planning national web taxes, which are likely to be adopted if no EU solution is agreed.

Source: Bangkok Post September 08, 2018 13:30 UTC