SME Times is powered by   
Search News
Just in:   • Market rises for 3rd day straight, Nifty above 9,500  • Sri Lankan brewery resumes exports after 2 months  • Core sector output plunges by over 38% in April  • Galaxy Note 20 may feature Exynos 992 SoC  • Include Discom liability while fixing states' borrowing, Minister tells finance panel 
Last updated: 30 Apr, 2018  

EU.9.Thmb.jpg Several EU countries block tax on large digital firms

EU.9.jpg
   Top Stories
» Core sector output plunges by over 38% in April
» GDP growth down to 3.1% in fourth quarter on manufacturing slump
» Need to reform Finance Ministry to facilitate exports, imports: Amitabh Kant
» FDI inflows rise 18% to $73 bn in FY20
» Goyal urges exporters to provide quality products, diversify
IANS | 30 Apr, 2018
Several European Union (EU) members opposed the adoption of a temporary tax on sales by large digital firms, proposed by the European Commission and promoted by France, the bloc's Bulgarian presidency said on Saturday.

Bulgaria currently holds the presidency of the EU, and finance ministers from the block's 28 member states were meeting here on Saturday, reports Efe news.

"Some countries don't want to have short term decisions, they prefer to have long term, but from our point of view we need both," Bulgarian Finance Minister Vladislav Goranov said.

Of the adoption of the tax, which the French government wanted to see approved before the end of the year, the Bulgarian minister said it would be done "as soon as possible."

This is first time that the EU has held a ministerial level discussion on the proposal that seeks a 3 per cent tax on the billing of certain digital services of firms with a turnover of more than 750 million euros ($911 million) in the world and more than 50 million euros in the EU.

Malta, Belgium, Ireland and Luxembourg have opposed the proposal.

European Commissioner for Economic Affairs, Pierre Moscovici, defended the measure, saying "it's not a protectionist approach, it's something which is in the interest of all Europeans wherever they live, and that it won't damage this economy which is very strong".

The tax would be temporary as an urgent measure to make up for the low tax contribution of these companies until a long term solution is adopted.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 30 May, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» China's forex reserves reach USD 2.85 trillion(1)
» FM reviews macro-economy in FSDC meet(1)
» Appoint distributors, expand your business(1)
» MSME stimulus(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter