Tech Tax Advocates Prepare Last-Ditch Push for EU Deal
- Digital levy would kick in as of 2022, include repeal clauses
- Regulated financial services will be exempt, document shows
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Proponents of a tax on the European revenue of tech giants are preparing a last-ditch push for a deal this week, amid continuing resistance to a levy that divides the region’s governments and threatens to fragment its single market.
European Union envoys in Brussels will discuss the latest compromise proposal on Wednesday, said a person familiar with the matter. Austria, which holds the rotating presidency of the bloc, seeks a political agreement on the tax that would hit the likes of Facebook Inc. and Alphabet Inc.’s Google at a meeting of the finance ministers next week, according to documents seen by Bloomberg.