Exclusive EU planned digital taxation on hundreds of businesses, according to Bestagger

Exclusive EU planned digital taxation on hundreds of businesses, according to Bestagger

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European Commission for the Digital Era Marguerite Vestager spoke at a press conference on June 9, 2021 at the EU Headquarters in Brussels, Belgium, on a survey of the competitive sector.

  • New EU taxation primarily affects European companies
  • Scope and purpose are different from OECD tax transactions, says Vestager.
  • Levy is one of the measures to repay EU borrowing

Brussels, July 2 (Reuters)-Digital taxation proposed by the European Commission in the coming weeks to fund a recovery from the COVID-19 pandemic will apply to hundreds of businesses. Marguerite Bestagger said.

Last year, 27 European Union countries agreed to jointly borrow € 750 billion ($ 878 billion) into the post-pandemic reconstruction fund to drive growth and promote a more environmentally friendly digital economy. ..

Borrowings from the European Commission on behalf of EU countries will be repaid from new taxes for over 30 years, including taxes on the digital economy and CO2 emissions.

Mr Vestagger welcomed the Organization for Economic Co-operation and Development (OECD) agreement signed Thursday on where companies are taxed and new rules on tax rates of at least 15%, but said the EU would continue digital taxation-she said. I haven’t said that, but how much is the taxable amount?

“If this can be fully approved and implemented and the tax authorities have the resources to actually claim the tax, then today some companies that pay little or no tax will do business. Some contribute to the society we do, “she told Reuters.

She said that EU digital taxation has a different purpose for OECD tax transactions, and the scope of taxation is “very wide, in principle it is taxation, not taxation.”

“If the OECD agreement covers 100 large companies, this covers more companies,” she said, with levies primarily affecting European companies, but other companies as well. He added that he would receive it.

“For companies, whatever they call it, they appreciate it as a cost,” she said, adding that companies should consider it a normal cost to do business in Europe.

She refused to provide details about the affected companies and the size of the levy. The Commission has rescheduled the tentative date of the announcement from July 14th to July 20th, but that is still subject to change, Commission sources said.

($ 1 = 0.8454 euros)

Report by Fu Yun Qi; edited by Edmond Blair and Louise Haven

Our criteria: Thomson Reuters Trust Principles.

Exclusive EU planned digital taxation on hundreds of businesses, according to Bestagger

Source link Exclusive EU planned digital taxation on hundreds of businesses, according to Bestagger

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