Ticker
EU to unveil 3% tax on digital giants
By EUobserver
The EU Commission will present plans on Wednesday for hitting digital companies such as Google and Facebook, who reap significant revenues in Europe while paying little tax, with a tax of around three percent. It would apply to companies with taxable revenues above €50m on services offered in the EU. Unanimous approval from all 28 EU countries is required, meaning one dissenting country, for example Ireland, could block it.