Spotify CEO joins protest against EU digital-revenues tax

It’s not just Article 13 and new copyright legislation causing controversy within the European Union. The EU could also be in line for a new law involving a 3% tax on the European revenues of technology companies, although as Bloomberg reports, several countries are resisting the idea. As is Spotify CEO Daniel Ek, according to the report: he has signed a letter to European finance ministers urging them to ditch the plans. It claims that the tax would “create a harmful legal precedent of taxing revenues over profits, even when the taxpayer is not yet profitable”. Alongside Spotify, CEOs from Booking.com, Zalando and Supercell are among the signatories to the letter. It goes on to claim that the tax would “impose a financial burden on burgeoning European companies and weaken their ability to compete globally”.

Source: Music Ally