The first column of the planned coverage of the Recovery Fund, that is the "Digital tax" on the giants of the web is likely to leave, at least that we do not want to enter into a trade war with our main world customer, the USA: in fact the United States has suspended the talks with European countries for a new global tax framework for technology companies, such as Google, Facebook and Alphabet, according to Financial Times reports.
United States Treasury Secretary Steven Mnuchin wrote a dry letter to four European finance ministers warning them that the discussions had reached a "dead end". He also said that the United States that I could not agree on temporary changes to the global tax law that could affect large tech companies, which are almost entirely based in the United States.
Mnuchin also warned that if European nations wanted to try applying their digital tax against US tech companies, they would not hesitate to respond with the application of commercial response sanctions. So this road to increase commission income, as established by the Commission, is proving to be a dead end. After all, why should the US let its companies tax when they can comfortably evade the European tax system and do what they want? If it goes well, they will pay something more than taxes in Washington, if it goes badly, however, they will pay more luscious dividends that will go mainly into the pockets of American citizens.
Once this road has been removed, at least for now, at Von Der Leyen there is only direct taxation of European citizens, both through the VAT levy, and through ecological taxes and fees, and through the duties at the border, however, paid by higher prices for citizens Europeans.
The article FALLS A FINANCIAL PILLAR TO THE RECOVERY FUND. The USA block talks on the Digital Tax comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/cade-un-pilastro-finanziaro-al-recovery-fund-gli-usa-bloccano-i-colloqui-sulla-digital-tax/ on Thu, 18 Jun 2020 06:00:34 +0000.