After G20 endorses tax deal, Italy says its digital levy could stay for two more years
Information about After G20 endorses tax deal, Italy says its digital levy could stay for two more years
By David Lawder and Gavin Jones
WASHINGTON/ROME (Reuters) – G20 finance leaders on Wednesday endorsed a global tax deal that calls for the elimination of unilateral digital services taxes, but Italy’s economy minister said it may take up to two years to eliminate the digital levy imposed by Rome.
The timing of the removal of digital services taxes aimed largely at U.S. technology platforms such as Alphabet Inc’s Google, Facebook Inc, Amazon.com Inc and Apple Inc could become a new source of tension with Washington after 136 countries agreed to revamp international corporate taxation last week.
Italian Economy Minister Daniele Franco said after chairing the G20 meeting that Rome would remove its digital tax by 2024 in line with the OECD deal to impose a 15% minimum corporate tax and partly redistribute taxing rights on large, highly profitable multinationals.