FILE PHOTO: German Finance Minister and vice-chancellor Olaf Scholz attends the weekly cabinet meeting in Berlin, Germany August 1, 2018. REUTERS/Joachim Herrmann//File Photo
BRUSSELS (Reuters) – Germany’s Finance Minister Olaf Scholz said on Tuesday the European Commission should revise its plan for a EU-wide tax on large digital companies and stressed the new levy should be applied only if there is no global deal by the summer of 2020.
Speaking to EU finance ministers at a streamed meeting in Brussels, Scholz also said that a revised proposal should reduce the scope of the tax and exclude the sale of data and the internet of things – sectors that if included could result in the taxation of German carmakers.
Reporting by Francesco Guarascio; Editing by Matthew Mpoke Bigg