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Wednesday, 7 July 2021

The US doesn’t want the EU taxing its tech

The US is trying its hardest to stop the EU taxing its tech companies: Washington is pushing the European Union to call off its plan to impose a new digital tax on US tech companies that operate inside the bloc, the Financial Times reports. The US argues that the levy jeopardizes ongoing negotiations to introduce a global minimum corporate tax rate, which received approval by 130 countries last week.

US and EU officials will convene to discuss the tax levy this week, ahead of a meeting of the G20 finance ministers on Friday, which aims to finalize the agreement before G20 leaders meet in October.

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