Brussels is set to delay plans for its controversial digital levy until autumn in an effort to boost the prospects of a global corporate tax reform deal.
The move came after G20 finance ministers meeting in Venice over the weekend endorsed a landmark tax deal reached by G7 nations last month to set a global minimum rate and overhaul taxing rights.
The European Commission had come under intense pressure from US Treasury secretary Janet Yellen to shelve its digital tax proposal, according to people familiar with the discussions. Washington fears that a go-it-alone EU approach could threaten the global tax talks.
Brussels was due to put forward its digital levy proposals this week, but had already pushed them back to July 20.
1. EU targets aviation fuel tax Brussels will propose a revamp of its 15-year-old rule book on carbon taxes to impose levies on polluting energy used in the airline and shipping industry and provide an incentive for low-emissions fuel, according to a draft legal text seen by the Financial Times.
2. Richard Branson in space The Virgin founder touched the edge of space yesterday morning, fulfilling a life-long ambition and winning bragging rights over rival Jeff Bezos in the race to open suborbital space to commercial tourism. Here is a look at how Branson and Bezos’s rocket ships compare.
3. Euro 2020: Italy beats England The final followed the script of most of England’s big games in recent decades: take an early lead, then spend the rest of the game defending with their backs to the wall, before finally succumbing to lose on penalties. Read Simon Kuper’s match analysis. Ticketless England fans broke into Wembley Stadium to watch the game.
4. SoftBank’s second Vision Fund speeds up The fund poured about $13bn into more than 50 companies during the second quarter, according to two people briefed, marking a sharp increase in the pace of its investments. During the first three months of the year, it invested less than $2bn in fewer than two dozen companies.
5. Haiti president’s widow claims opponents plotted assassination Former president Jovenel Moïse’s widow has accused his domestic opponents of organising his assassination as prosecutors summoned leading business and political figures to face questioning. Haiti police said they had identified the men who assassinated Moïse, most of them Colombian mercenaries.
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