EU puts its proposal for a European digital tax on hold

EU puts its proposal for a European digital tax on hold as it focuses on advancing the principle of a global agreement on taxation.

“Successfully concluding this process will require a final effort from all parties and the Commission is committed to focusing on this effort, which is why we have decided to suspend work on a digital rate proposal,” said the economic spokesman for the Community Executive, Daniel Ferrie, at a press conference held in Brussels yesterday, Monday, July, 12.

The spokesman has insisted that the priority for the bloc is the agreement within the OECD, he also stressed he does not have a precise date on when Brussels thinks it will recover this initiative, although he did point out that it will be “sometime in autumn” when they re-evaluate the situation.

The pact this weekend at the G20 held in Venice (Italy) is a “historic” agreement to create a “stable and fair” tax system, has considered Ferrie, who has stressed that in the eyes of the Community Executive it is an ” extraordinary result after years of negotiation ”for which Brussels itself has worked“ tirelessly ”.

Related:

SPAIN held talks recently with the United States and other countries in a bid to find a fairer system for taxing the profits the tech companies make at a global level, according to a report from Reuters.

Economy Minister Nadia Calvino spoke a day after Washington imposed a 25 per cent tariff on over $2 billion – €1.8 billion worth of imports from Spain, including five other countries, over the way their digital services are taxed.

 


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Ron Howells

Ron actually started his working career as an Ophthalmic Technician- things changed when, during a band rehearsal, his amplifier blew up and he couldn’t get it fixed so he took a course at Birmingham University and ended up doing a degree course. He built up a chain of electronics stores and sold them as a franchise over 35 years ago. After five years touring the world Ron decided to move to Spain with his wife and son, a place they had visited over the years, and only bought the villa they live in because it has a guitar-shaped swimming pool!. Playing the guitar since the age of 7, he can often be seen, (and heard!) at beach bars and clubs along the length of the coast. He has always been interested in the news and constantly thrives to present his articles in an interesting and engaging way.

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