European Union economy commissioner Paolo Gentiloni says the bloc is committed to its digital tax plans. Photo: Alexandros Michailidis/BloombergThe EU insists its plan to tax big technology companies won’t start a trade war with the US or interfere with global corporate tax talks. The European Commission confirmed yesterday that it intends to come forward with a proposal for a digital levy this summer to help fund its post-pandemic budget. “The digital levy should not fuel trade tensions in any way,” said Paolo Gentiloni, the EU’s economy and tax chief. Finance Minister Paschal Donohoe has repeatedly called on the EU not to go it alone on digital taxes, while the US has consistently opposed singling out the tech sector and has threatened to retaliate against national digital taxes in France, Italy and other EU states.

Source: Irish Independent April 29, 2021 01:38 UTC