EU finance ministers are set to park plans to tax Big Tech while they wait for global rules to be agreed. Twenty-two of the EU’s 27 finance ministers – including Ireland's Paschal Donohoe – took the floor at an EU meeting to express concern about the proposed timing of the EU levy. The Commission is looking at corporate income tax top-ups, taxes on digital revenues and transaction taxes. The EU wants the proceeds of a bloc-wide digital levy to feed into its budget. Several EU states - including France, Italy, Spain and Austria - have introduced digital taxes, but their rates and structures vary.

Source: Irish Independent March 16, 2021 16:07 UTC