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10/8, 4:18 PM (Source: TeleTrader)
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Vestager: EU prepared to act on digital tax

The European Union should make an agreement on global digital tax to ensure Silicone Valley-based companies such as Facebook, Amazon, and Google pay an appropriate share, EU Competition Commissioner Margrethe Vestager said during the confirmation hearing before European lawmakers in Brussels on Tuesday.

"We want these taxation rules to be based on a global agreement. But if that’s not possible by the end of 2020, then we are prepared to act," Vestager underlined.

Previously, she raised a concern on the same matter and pointed out that Europe should "take the lead and fit the digital age." Austria was the first EU country that imposed the digital tax (5%) while France is on its way to do the same since the upper house of parliament approved a bill enacting a 3% tax on digital giants.

Breaking the News / GA