BRUSSELS — 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, its executive vice president, Margrethe Vestager, said.
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 ($887 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 E…
Keep on reading: EU’s planned digital levy to cover hundreds of firms, Vestager says