EU’s planned digital levy to cover hundreds of firms, Vestager says

  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 9%
  • Publisher: 86%

A digital levy to be proposed by the European Commission in the coming weeks to fund its recovery from the COVID-19 pandemic will apply to hundreds of companies, the majority of them European. | reuters

Philippines Headlines News

Philippines Latest News, Philippines Headlines

In a bid to fire up growth and foster a greener and more digital economy, the 27 European Union countries last year agreed to jointly borrow €750 billion for a post-pandemic recovery fund.The borrowing, by the European Commission on behalf of EU countries, is to be repaid over 30 years from new taxes, among them levies on the digital economy and on CO2 emissions.

Vestager welcomed the Organisation for Economic Cooperation and Development agreement clinched on Thursday on new rules on where companies are taxed and a tax rate of at least 15% but she said the EU would proceed with its digital levy – although she did not say how much the levy would be.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in PH
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

130 nations back global tax reform deal covering multinational firmsA total of 130 countries have agreed a global tax reform ensuring that multinationals pay their fair share wherever they operate, the OECD said on Thursday, but some EU states refused to sign up.
Source: ABSCBNNews - 🏆 5. / 83 Read more »

VIRAL: Mga street vendor bida sa digital artwork bilang 'Kalsada Heroes'MAYNILA — Patok ngayon sa social media ang mga likhang digital art ni Bayan Patroller Eman Jacob San Andres, 19, mula sa Barangay Rizal, Makati City kung saan mala-superhero ang dating ng ilang mga street vendor.
Source: ABSCBNNews - 🏆 5. / 83 Read more »

DOF: IRR of coco levy law now in effectThe implementing rules of the law that seeks to establish a fund to benefit farmers and develop the coconut industry has taken effect, the Finance Department says.
Source: CNN Philippines - 🏆 13. / 63 Read more »

Survey firm BOSES Pilipinas vows to ‘secure the Filipino voice’BOSES Pilipinas, which stands for Boses, Opinyon, Siyasat, at Siyensya para sa Pilipinas (Voices, Opinions, Research and Science for the Philippines), was launched in an online forum on Wednesday, June 30.
Source: ABSCBNNews - 🏆 5. / 83 Read more »

DITO Telecommunity bolsters footprint with 17 more covered areasThird telco player DITO Telecommunity has strengthened its reach in the telecommunications sector with more areas now commercially covered by its mobile services.
Source: CNN Philippines - 🏆 13. / 63 Read more »

Thailand's 'paradise island' Phuket reopens to touristsUnder the “Phuket sandbox” plan, foreign tourists vaccinated against COVID-19 will not have to spend any time in quarantine and can move around the island freely.
Source: interaksyon - 🏆 24. / 51 Read more »