Italy to introduce 3% web tax on digital giants from 2020 - Sarkari Naukri Sms

Sarkari Naukri Sms

Sarkari Result: SarkariResult.com provides you all the latest Sarkari Results, Sarkari Naukri Jobs in various sectors...in India.

Post Top Ad

Friday, October 18, 2019

Italy to introduce 3% web tax on digital giants from 2020

Italian scheme to yield about 600 million euros ($662 million) a year alternative revenues will allow it to avoid a scheduled increase in sales tax. Italy and European Union members have long complained about the way web giants collect considerable profits in their countries to pay only a few million euros in taxes each year. The EU failed to agree to tax the firms. France and the United States reached a deal in August to end a standoff over a French tax on big internet companies, with France repaying companies the difference between the French tax and a planned mechanism being drawn up by the Organisation for Economic Co-operation and Development (OECD). The companies can book profit in low-tax countries, such as Ireland and Luxembourg, no matter where revenue originates. Italy's plan is broadly in line with proposals from the OECD, which last week urged governments to redraw rules for taxing global giants. Organization for Economic Co-operation and Development (OECD) Headquarters: Paris, France Founded: 30 September 1961

from Current Affairs 2019 for Competitive Exams Current Affairs Today Italian scheme to yield about 600 million euros ($662 million) a year alternative revenues will allow it to avoid a scheduled increase in sales tax. Italy and European Union members have long complained about the way web giants collect considerable profits in their countries to pay only a few million euros in taxes each year. The EU failed to agree to tax the firms. France and the United States reached a deal in August to end a standoff over a French tax on big internet companies, with France repaying companies the difference between the French tax and a planned mechanism being drawn up by the Organisation for Economic Co-operation and Development (OECD). The companies can book profit in low-tax countries, such as Ireland and Luxembourg, no matter where revenue originates. Italy's plan is broadly in line with proposals from the OECD, which last week urged governments to redraw rules for taxing global giants. Organization for Economic Co-operation and Development (OECD) Headquarters: Paris, France Founded: 30 September 1961 https://ift.tt/2nUc1Nq

No comments:

Post a Comment

Post Top Ad