France’s Push for a European Tech Tax Meets Resistance
- U.K. said to back away from EU plan as ministers met in Sofia
- OECD might prepare global blueprint by 2019 instead of 2020
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Europe’s plan to tax large digital companies hit resistance at a meeting of the bloc’s finance ministers as delegates tussled between a French-backed push for a quick regional agreement and calls for a global solution.
Ministers gathered in Sofia, Bulgaria, to discuss a European Union proposal aimed at ensuring technology giants pay their fair share in tax, amid growing public anger that they’re benefiting from an outdated framework that struggles to deal with virtual businesses. Yet despite France’s call for agreement by the end of the year, some nations urged a broader solution to ensure a level-playing field and avoid further straining transatlantic ties.