Industry fears EU ‘Google tax’ will hit trading venues, CCPs
Broad wording of digital services tax could place market infrastructure in firing line
Industry sources fear the scope of a new digital services tax (DST) that the European Union intends to levy on internet titans – such as Amazon, Facebook and Google – will inadvertently capture electronic trading venues and other market infrastructure providers unless a broader exemption is inserted into the text.
“The EU DST is targeted at the big US digital businesses, including auction websites and other online marketplaces,” says Dan Neidle, a partner at law firm Clifford Chance. “But the
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