European Countries Reject Compromise on Digital Revenue Tax

A group of European Union countries rejected a new compromise plan for the introduction of an EU-wide tax on digital revenues of large companies, diplomats said, making it increasingly difficult to meet a year-end deadline for a deal. Under a proposal from the EU’s executive Commission in March, EU states would charge a 3 percent levy on the digital turnover of large firms that are accused of averting tax by routing their profits to the bloc’s low-tax states.