Brussels’ top economic official has stepped up a transatlantic dispute over a global digital tax, saying the EU would be ready to revive its own plans for a bloc-wide levy if international negotiations fail. The vow from Paolo Gentiloni, the EU’s new economy commissioner, came after fears grew that an OECD effort to reach a deal on minimum taxes for global tech companies was teetering on the edge of collapse amid US resistance. In a letter to the OECD this week, Steven Mnuchin, the US Treasury secretary, reversed Washington’s previous stance in the international talks by resisting a proposed shake-up in the rights that countries would have to tax large multinationals. Read More...
Brussels’ top economic official has stepped up a transatlantic dispute over a global digital tax, saying the EU would be ready to revive its own plans for a bloc-wide levy if international negotiations fail. The vow from Paolo Gentiloni, the EU’s new economy commissioner, came after fears grew that an OECD effort to reach a deal on minimum taxes for global tech companies was teetering on the edge of collapse amid US resistance. In a letter to the OECD this week, Steven Mnuchin, the US Treasury secretary, reversed Washington’s previous stance in the international talks by resisting a proposed shake-up in the rights that countries would have to tax large multinationals.
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