EU Commission puts plans for digital tax on hold

The EU Commission has put plans on hold to ask tech giants such as Google, Amazon, Apple, and Facebook to pay more. The reason, however, is not that corporations should be spared. A Commission spokesman said on Monday in Brussels that the temporary stop of an EU digital tax was due to efforts to introduce a global minimum tax. The digital levy should actually also co-finance the EU’s corona aid.

US Treasury Secretary Janet Yellen last weekend called for an end to European digital taxes if the planned global tax reform is to be implemented. The finance ministers of the major industrial and trading countries agreed on a minimum tax of 15 percent on Saturday. At the working level, 131 countries around the world have already approved the plans. This is to prevent companies from relocating their headquarters to low-tax countries and the countries continue to lower their corporate taxes in competition with one another.

The final questions should be clarified by October this year. Then the heads of state of the G20 countries should agree. Finance Minister Olaf Scholz said he was “completely sure” that a decision would be successful there. The Commission spokesman stressed that one final joint effort was needed to complete the project.

Among other things, the large digital corporations are affected and have often only paid little taxes to date. If a digital tax were to be levied in addition to the minimum tax, American tech companies, in particular, could be charged twice. You hope that the international agreement on redistribution of taxation rights will make it possible to get rid of existing digital taxes, said Yellen on Saturday. Such taxes currently exist in France, Spain, and Italy, for example.

The financial policy spokesman for the Greens in the European Parliament, Sven Giegold, also said that the transatlantic partnership means foregoing its own European digital tax plans if the minimum tax is introduced as planned. The EPP Group’s spokesman for economic policy, Markus Ferber, said: “The biggest tax law problem in the EU is tax deals that individual member states such as Luxembourg and the Netherlands are negotiating with multinational companies.” An additional digital tax should not lead to the minimum tax failing.

“The biggest tax law problem in the EU is tax deals that individual member states such as Luxembourg and the Netherlands negotiate with multinational companies.”

Markus Ferber, EPP

In view of a conversation between the EU finance ministers and Yellen on Monday, Giegold called for a significantly higher minimum tax than recently decided. “Olaf Scholz should stand behind Janet Yellen and demand the tax rate of 21 percent for Europe as well.” Before the US Congress votes on the tax rate, Europe should introduce the higher rate as a signal of support. DPA



source http://ostatus.org/2021/07/13/eu-commission-puts-plans-for-digital-tax-on-hold/

Comments

Post a Comment

Popular posts from this blog

NZA New Zealand Auckland brings colorful ready-to-wear spring and summer collections

Image
Over the past few seasons, NZA New Zealand Auckland has reinvented its brand DNA and strengthened its position in the European market. We try to do this by developing our collections in a completely original and creative way, always staying keen on the latest international fashion trends, and of course by finding inspiration in the rich culture, beautiful nature, and amazing history that New Zealand has to offer! In front of you is the ‘teaser’ of our new NZA Spring & Summer ’22 collection. Our stylists have been incredibly successful in developing a collection of casual sportswear that can be sold to a wide variety of consumers. The collection is characterized by a fresh and commercial use of color, with many styles elaborated with beautiful technical materials and details. By dividing the strong structure of the colors, materials, and appearance into three different delivery blocks, our collection is immediately ready for use. The products from each live...
Read more

Gospel Legend Shirley Caesar’s Viral Leads to New Fame, More Charity

Image
Going insane was a luxury. It’s the going, that’s the treat. Going suggests travel, moving. There was no going. The madness was constant and still, sitting there, like a place on a map. The women in the beautifully brutal film 12 Years A Slave were mangled and maliciously intertwined. It was where they lived, where they were from, born and bred into mundane inescapable crazy. This young couple is having a great time The twisted relationship dynamics between the two lead female characters Patsey and Mistress Epps in 12 Years A Slave are a horror. A painfully vivid illustration of the dank gnarly negotiations women had to make with each other to survive the demonic conditions of American slavery. The film fearlessly exposes a suppurating historic wound between Black and White women so wicked and utterly honest, it is both repulsive and liberating to witness. We see the dark and sweet Patsey, doubly enslaved by virtue of her race and beauty, sway for a moment, let go like a girl,...
Read more

Booty Calls MOD APK v1.2.95 (Unlimited Money/ Diamonds)

Image
Try out the hottest game in town with our latest Booty Calls MOD APK (Unlimited Money/ Diamonds) . Get Unlimited Cash Money and Unlimited Gems Diamonds resources on your game account. Booty Calls MOD Apk File Information: App Name Booty Calls Mod Apk Platform Android MOD Features Unlimited Cash Money & Unlimited Gems Diamonds Size 52M Version 1.2.87 Category Simulation , 2D , Offline Root Required? No Price Free Get it on Booty Calls MOD Features: Unlimited Cash Money Unlimited Diamonds (Gems) 100% Safe (Anti-ban system) Booty Calls Mod APK file working on all Android versions Easy to use No need to root your Android device! About the game So nowadays it’s the time of R-Rated or X-Rated movies and games. Games and Movies give out those gore and violence at a chunk but more than that teens and young adults mainly have it in a fun way. It is by watching those explicit steamy scenes where the girl undresses to have a bath or the guy...
Read more