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    EU Succumb to US Pressure, to delay Digital tax for now

    The European Commission said Monday it would delay its plan to propose an EU digital tax in order to not jeopardise efforts to secure a global deal on fairer taxation.

    After an “extraordinary” breakthrough at G20 talks on Saturday, “we have decided to put on hold our work on a proposal for a digital levy”, an EU spokesman said, a day after Washington asked Brussels to delay its tax plan.

    Meeting in Venice, G20 finance ministers on Saturday endorsed a plan agreed by 132 countries to overhaul the way multinational companies, including US digital giants, are taxed.

    The G20 called on negotiators to swiftly address the remaining issues and finalise the agreement by October.

    Meeting in Venice, G20 finance ministers on Saturday endorsed a plan agreed by 132 countries to overhaul the way multinational companies, including US digital giants, are taxed.

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