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EU ministers fail to break digital tax deadlock

Reuters  |  BRUSSELS 

By Leigh ThomasBRUSSELS (Reuters) - European Union finance ministers failed to agree a tax on digital revenues on Tuesday, despite a last minute Franco-German plan to salvage the proposal by narrowing its focus to companies like Google and Facebook .The European Union's executive arm proposed a 3 percent tax on big digital firms' online revenues in March, alleging the companies funnelled profit through states with the lowest tax rates.The tax requires the support of all 28 EU states, including small, low-tax countries like Ireland which have benefited by allowing multinationals to book ...

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First Published: Wed, December 05 2018. 04:30 IST
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