US News

Italy says to remove unilateral digital tax by 2024

© Reuters. FILE PHOTO: Italy’s Economy Minister Daniele Franco speaks during a joint news conference with Italy’s Prime Minister Mario Draghi (not pictured) on the government’s new fiscal targets in Rome, Italy, September 29, 2021. REUTERS/Yara Nardi/File Photo

WASHINGTON (Reuters) – Italian Economy Minister Daniele Franco said on Wednesday that Rome will remove its corporate digital tax by 2024 in the light of the minimum tax of 15% that has now been agreed globally.

Speaking after chairing a meeting of Group of 20 finance ministers in Washington, Franco said national digital taxes were always “suboptimal solutions” and he expected other countries would take the same line as Italy in cancelling them.

“We expect national unilateral taxes to be removed by 2024,” he told reporters at a news conference.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

See also  UK helps employers with slow phase-in of job shield costs


Leave a Reply