E.U. Delays Digital Levy as Tax Talks Proceed

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By Alan Rappeport

BRUSSELS - The United States secured a diplomatic victory in Europe when European Union officials agreed to postpone their proposal for a digital levy that threatened to derail a global effort to crack down on tax havens. The delay removes another potential obstacle to the broader tax agreement, which gained momentum over the weekend after finance ministers from the Group of 20 countries formally backed a new framework. That deal, which officials hope to make final by October, would usher in a global minimum tax of at least 15 percent and allow countries to tax large, profitable companies based on where their goods and services are sold. If enacted, the changes would entail the biggest overhaul of the international tax system in a century. 

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By Alan Rappeport, posted on Monday July 12, 2021

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