European Union finance ministers failed to agree on a tax on digital income, despite a last-minute plan by Germany and France to save the proposal.
The EU’s executive arm proposed a 3 percent tax on digital firms such as Facebook and Google, saying these companies tend to channel profits to countries with lower taxes.
The collapse of the agreement is a heavy blow for the French president, Emmanuel Macron, and his government, which has invested considerable political capital for this tax, Telegraph reports.
Companies that profit from Google and Facebook advertising would be hit hardest by the Franco-German proposal.
The tax requires the support of 28 member countries, including those that offer low taxes such as Ireland, and according to the first proposals, the tax was supposed to enter into force in January 2021.
As the South African government works to improve its tax system, a startling revelation has come to light: around 100 000 individuals earning over R1 million annually are not registered for tax. This
New measures to tackle money laundering, tax evasion and terrorist financing are likely to come into effect in early 2026. The Swiss Federal Council has adopted a series of measures to be submitted
If you were to visit Dublin and take a short trip down the Liffey towards the Docklands, you’d see some buildings made of mostly glass and steel along its banks. These buildings, in proud letters,
Press Release from Cayman Finance, Friday 1 March, 2024. Cayman Finance is praising the Ministry of Financial Services for pioneering a first-of-its-kind legislative consultation process for proposed