Donald Trump was like the black swan of globalization; But those who came later Joe Biden, It will not go that far if the national interest is to be protected. Democrat Biden also promises to take revenge on those who threaten me Revenue from large American technology companies. That was to be expected: after all, few issues are as complex, divisive and divisive as the digital giants have been gaining for years and the need to tax them adequately. We have been trying since 2015 to find a global agreement on the best solution to avoid tariff wars; But the Trump-led US negotiations were thwarted, so many countries (including Italy) went ahead and agreed on their own. National Digital Tax. Trump retaliated but lost the election.
Dossier is now in Biden’s hands, showing that he is already tough. He warned that the US tariff would be even higher if the British digital tax actually came into effect. 25% of UK export volume (Clothing, furniture, video game consoles, pottery, makeup). $ 325 million, the same amount as the British tax levied on sales by American tech companies. Biden said it would take a few more weeks for a final decision to be made. However, it is not only the British who are at risk; Dozens of other states the U.S. is considering pursuing a coordinated response, including Italy. In short, the forearm is the forearm.
The Italian digital tax was approved in the 2018 budget law, however it never came into force. Maybe he hoped it would go ahead successfully Discussions at the OECD (Objective: Establish a minimum global tax), thus avoiding US retaliation against national digital taxes. A few days ago, the European Union said through the mouth of the current president of Ikof (Portuguese Joao Liao) that the OECD effort was the right way; Because there is reasonable confidence in any cooperative approach on the part of Biden (however, a majority in Congress is required to approve an agreement accurately). If the talks fail, the European Commission will intervene in a web tax proposal by 2023.
So what will Italy do? Some hints may have been sown by the league leader Matteo Salvini, Spoke at a video conference hosted by ISP, one of the leading Italian think tanks in international politics. The subject was European coordination on political and economic issues. Salvini said: “Collaboration is not an end, it is a way: I am taking the example of the web tax that has been talked about in OECD since 2015 without coming to a conclusion. Good: In Italy it applies to 3% of revenue starting in May “.
Thinking of a national digital tax is definitely legal. In 2019 i The giants of the web (Mostly Americans) paid a very small amount 42 million euros – Against the background of huge income. A few examples: Google seems to pay less tax than the peeled tomato company La Doria, and Facebook less than the pencil company Phila. However, digital taxation has its drawbacks: if the US responds, it affects exporters. The French came into force a few days ago, and now Paris risks $ 25 billion a year in tariffs of 25% on exports to the US.
What is the alternative? Well, let the OECD discussions continue. The idea would be this Update international law on corporate taxation, Which dates back to the 1920s and connects profits to the company’s presence in a particular area. With this system, giants on the web will probably open their registered office in the Netherlands or Ireland – when corporate taxes are lower – however, when most sales take place in other European countries, they collect very little. The OECD therefore aims to persuade tech corporations to pay at least part of the taxes in sales and profit-making countries. The Biden government will be open to this solution. However, a possible agreement must be approved in Congress, which is not an easy task.
The The second best Instead of it Organize at a European level. But even this road is not trivial. The Netherlands, Ireland, Luxembourg, Belgium and Malta – all countries that impose subsidized taxes in Europe – are ready to go against it.
Prone to fits of apathy. Unable to type with boxing gloves on. Internet advocate. Avid travel enthusiast. Entrepreneur. Music expert.