EU gives up on Creating a Europe-wide Digital Taxation Directive

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EU finance ministers have announced plans to stop their endeavor to formulate an immediate EU-wide tax Directive on the income of worldwide firms providing digital services, notwithstanding resistance from several nations. Rather, the EU will endeavor to impact international tax discussions at OECD and G20 level before the end of 2020, much to Denmark, Ireland, Sweden and Finland’s dismay.

While the UK France, Italy and Spain have recently enforced unilateral measures respectively. The OECD itself is in the middle of holding a counsel on digital company taxation matters and has gathered more than 200 public remarks about the issue.