Booking, Spotify CEOs Plead With EU Not to Impose Tech Tax
- EU still working on proposed 3% levy on sales of tech co.
- CEOs say tax could cause retaliation from U.S. government
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Chief executive officers from some of Europe’s largest tech companies, including Booking.com, Spotify Technology SA, and Zalando SE, have urged European governments not to adopt a tax on digital revenues.
The proposed levy would “create a harmful legal precedent of taxing revenues over profits, even when the taxpayer is not yet profitable,” according to a copy of the letter to the European Union’s finance ministers obtained by Bloomberg. The letter was also signed by the CEOs of Allegro.pl, Supercell Oy and Takeaway.com NV.