European Union finance ministers are set to ditch a plan to introduce an EU-wide digital tax next week but agree to work on a global reform of the taxation of internet companies, an EU document shows.
The move is likely to be welcomed by digital giants like Alphabet Inc’s Google and Facebook who would have fallen under the scope of the envisaged 3 percent levy.
France aims 3% tax on Apple, Google and other tech giants
France moved Wednesday to impose a 3 percent tax on Google, Apple, Facebook and other tech giants in a bid to advance an international agreement to clamp down on corporate tax avoidance.
The proposed levy would affect Web companies that bring in more than €750 million ($848 million) in global revenue and €25 million ($28 million) in French receipts, and it would be applied only on domestic sales.