Monday, August 2, 2021
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EU withholds digital taxation in accordance with G20 minimum tax system – News


Brussels — The European Union has put the proposed digital tax on maintain, an EU spokesman mentioned Monday, a evaluate of the foundations for monetary officers from teams of 20 main economies to tax worldwide corporations. After approving.

The EU faces robust US strain to postpone the announcement till an settlement between the G20s progresses. The European Fee, the EU’s government physique, “determined to withhold our work on digital taxation proposals” till October, a spokesman mentioned. The proposal was scheduled for later this month.

The EU announcement shall be made after US Treasury Secretary Janet Yellen arrives in Brussels for a gathering with EU Treasury Ministers and Fee officers, the place she is anticipated to debate. Tax transaction It’s going to then foyer for proposed EU levies which were criticized for being inconsistent with the G20 settlement.

European authorities have already proven that EU digital taxation goals to make sure that it doesn’t undermine international company minimal tax efforts, suggesting decrease tax charges and avoiding discrimination towards U.S. corporations. Signifies that it must be configured in.

Nonetheless, by delaying the Fee’s proposal, the EU will keep some leverage even when negotiations on the way to implement a minimal company tax settlement fail.

EU withholds digital taxation in accordance with G20 minimal tax system

Source link EU withholds digital taxation in accordance with G20 minimal tax system

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