EU Scraps Digital Tax, Targets Waste, Tobacco, Big Firms Instead
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The EU is abandoning plans for a digital services tax on tech giants, opting instead for taxes on electric waste, tobacco, and large companies to repay its COVID recovery debt. This shift follows threats of US tariffs and concerns about national governments ceding power to the EU. The new taxes aim to generate €25-€30 billion annually. This represents a significant policy change from May when a digital levy was considered to address the bloc's debt.
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