Taxes
EU Delays Push for Digital Levy to Focus on Global Tax Deal
- Yellen, who opposed the effort, meets today with EU officials
- EU’s Vestager insists regulators will keep working on a levy
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The European Union said Monday that it would postpone its push for a controversial digital levy to focus on a negotiation over a broader minimum global tax deal struck by the world’s largest economies.
The U.S. has lobbied against the levy on digital sales that was likely to hit Silicon Valley giants’ business in Europe. The EU had pledged to introduce a levy if there was no progress on a sweeping effort to tax corporations more uniformly. Such a pact now seems more likely after the Group of 20 endorsed the principles of a global-tax agreement.