EU Countries Reach Agreement

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EU countries Reach Agreement in Principle on temporary ‘Digital’. EU Ministers of Finance have reached an agreement in principle on a temporary European ‘digital’ for internet companies.

 

The Austrian minister Hartwig Löger announced this in Vienna.

The measure must be renewed by international rules as soon as they exist.

These international agreements must come from the OECD, the joint venture of 36 countries. However, that can take years.

According to state secretary Menno Snel (Taxes), temporary EU law should not intervene with the proposed global agreements. “

The Netherlands wants a global approach. Snel also ” prefers a good than fast ” solution, he said in Vienna.

Review is necessary because of outdated rules
Revising the way multinationals are taxed is essential because the laws are antiquated.

Companies pay profit tax in the country where they are located.

Internet giants such as Amazon and Apple are now located in attractive countries,

 while they are making a significant profit in other countries that lose tax revenues due to the settlement rule.

France wants to rush with regulation
France, in particular, wants to speed up a scheme.

Prime Minister Mark Rutte had already stated in June that he did not want to block ” further thinking ” about the digital.

The French minister Bruno Le Maire declared that he has “changed the position of Luxembourg and the Netherlands” in recent times.

In the coming months, the technical details will be worked out intending for a final agreement before the end of this year.

Quickly finds that ” too ambitious ”.

However, according to the German minister Olaf Scholz, a solution is needed.

“Everyone realises that it is not fair that the most successful internet companies do not contribute financially to society.”

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