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EU Committed To Boosting Tax Take From Digital Economy

by Ulrika Lomas, Tax-News.com, Brussels

19 March 2021


The EU is willing to move ahead with its own proposals on taxing the digital economy if an agreement is not reached at an international level, according to the current EU Council presidency.

Joao Leao, the Portuguese Minister of State for Finance, said that EU finance ministers had discussed the taxation of the digital economy at their informal meeting on March 16, 2021.

According to a statement by the Portuguese presidency of the European Council, the Council continues to accompany and contribute to the negotiations ongoing at an OECD level. The technical work, for which the OECD is responsible, is well advanced, according to the statement.

Commenting on the discussion, Leao said that EU member states "agree that it is in their interest to give room to the negotiations in progress at the OECD level" and that "the route to follow is to reach an overall consensus, in a multilateral context."

However, Leao added that member states also confirmed their "willingness to find a European solution, in the absence of progress in the conversations at OECD level."

TAGS: compliance | tax | tax compliance | Portugal | tax avoidance | interest | corporation tax | internet | tax planning | transfer pricing | tax reform | European Union (EU) | Europe | Tax | Tax Evasion | BEPS

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