BUSINESS EU competition chief: ready to act on digital tax

BUSINESS

EU competition chief: ready to act on digital tax

AP

01:36, October 09, 2019

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EU Competition Commissioner Margrethe Vestager says the bloc should agree on a tax to ensure global digital companies pay “their fair share” in Europe.

Vestager, who has been designated to continue her work in the new European commission, said during her confirmation hearing by EU lawmakers that “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 will also oversee the bloc’s digital policy if she is confirmed.

The EU is trying to find a way to tax big companies that do huge business across the continent but pay taxes only in the EU nation where their local headquarters are based, often a low-tax haven like Luxembourg or the Netherlands.



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