EU’s planned digital levy to cover hundreds of firms

BRUSSELS: A digital levy to be proposed by the European Commission in the coming weeks to fund its recovery from the COVID-19 pandemic will apply to hundreds of companies, the majority of them European, its executive vice-president Margrethe Vestager said.

In a bid to fire up growth and foster a greener and more digital economy, the 27 European Union countries last year agreed to jointly borrow 750 billion euros ($887 billion) for a post-pandemic recovery fund.