JavaScript is off. Please enable to view full site.

EU ready to go it alone on taxation of digital firms

EU ready to go it alone on taxation of digital firms

Thursday, June 18, 2020, 16:34 GMT+7
EU ready to go it alone on taxation of digital firms
EU Economic Affairs Commissioner Paolo Gentiloni holds a joint press conference with European Commission Vice-President Valdis Dombrovskis on Recovery and Resilience at the European Commission headquarters in Brussels, Belgium May 28, 2020. Photo: Reuters

BRUSSELS – The European Union is ready to go it alone with taxing digital services of firms like Google, Amazon, Facebook or Apple if there is no global deal on such a tax this year, European Economic Commissioner Paolo Gentiloni said on Thursday.

He was responding to the decision by the United States to pull out of negotiations on a global solution to taxing digital services on Wednesday.

“I very much regret the U.S.’ move to put the brakes on international talks on taxation of the digital economy. I hope that this will be a temporary setback rather than a definitive stop,” Gentiloni said.

“The European Commission wants a global solution to bring corporate taxation into the 21st century – and we believe the OECD’s two-pillar approach is the right one,” he said.

“But if that proves impossible this year, we have been clear that we will come forward with a new proposal at EU level," he said.

Reuters

More

Read more

Dutch regulator rejects Apple’s objections to fines

Dutch competition watchdog ACM on Monday said it had rejected objections by Apple against fines of 50 million euros ($53 million) it gave the company over failure to comply with orders to limit the dominant position of Apple's App Store

15 hours ago
;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news

Dutch regulator rejects Apple’s objections to fines

Dutch competition watchdog ACM on Monday said it had rejected objections by Apple against fines of 50 million euros ($53 million) it gave the company over failure to comply with orders to limit the dominant position of Apple's App Store