5/17, 5:15 PM (Source: TeleTrader)
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Vestager: Europe must push for global digital tax

European Competition Commissioner Margrethe Vestager stated on Friday that Europe, along with the rest of the world, needs to push for global digital taxation to improve competition on the market among tech companies. It is "not fair" for tech giants to pay less than smaller tech companies that "create jobs and contribute to the economy," Vestager told CNBC at the VivaTech conference in Paris.

"There are so many companies that do pay their taxes. They create jobs, they contribute to the economy," Vestager said. "It is not fair that they have to see competitors for capital, for skilled employees, get away with paying less than half the same amount of taxes," she pointed out.

Last month, France introduced a state tax on the largest tech corporations, assessing that it would amount to approximately €500 million per year. Meanwhile, Vestager, who is now running for the position of the president of the European Commission, thinks that the digital tax should be implemented at the EU level.

Breaking the News / SS