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EU suspends implementation of digital tax plan

07 Sep
EU suspends implementation of digital tax plan Hadjivangeli Advocate Cyprus

EU suspends implementation of digital tax plan

EU suspends implementation of digital tax plan

The European Commission said it would postpone its plan to implement a digital tax in the European Union so as not to jeopardize efforts to secure a global agreement on fairer taxation.

At a meeting in Venice, the G20 finance ministers approved a plan agreed by 132 countries to change the taxation of multinational companies, including US digital giants.

They endorsed the outcome of negotiations at the Organization for Economic Co-operation and Development (OECD) on a global minimum corporate tax rate of at least 15 percent and on allowing countries to tax a share of the profits of the world’s largest companies, regardless of where they are headquartered.

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