- New EU levy will affect mostly European firms
- Scope, purpose differs from OECD tax deal, Vestager says
- Levy is among measures to repay EU borrowing
BRUSSELS, July 2 (Reuters) – 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.
The borrowing, by the European Commission on behalf of EU countries, is to be repaid over 30…