Insurers Push Back On EU Unilateral Digital Tax Plan

Law360, London (February 18, 2021, 4:40 PM GMT) -- European insurers have pushed back against the European Union's plan to create a bloc-specific tax on digital companies, saying the move could start a tariff war and hinder the sector's progress toward digitization.

Insurance Europe, a blocwide trade group, said on Wednesday that it broadly supports a proposal by the commissioner for taxation in the European Union to introduce a new digital tax. However, it urged the EU to do so only in alignment with other global players.

"The distribution of taxing rights between countries should be tackled globally, to avoid tariff wars," the body said. "Any EU proposal should therefore...

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