VENICE, July 11 — The priority in corporate tax reform is to go ahead with a global G20 deal, European Economics Commissioner Paolo Gentiloni said on Saturday when asked about whether European Union’s digital services levy plan may be postponed.
Gentiloni was asked whether the EU was considering to postpone until after October its proposal on a new European levy on digital services, which has so far been expected later in July. One European official said that the new levy risked undermining the broader OECD deal, which G20 finance ministers formally endorsed on Saturday.Plan derailed?
“We’re very hopeful... that the pillar one deal that will involve a reallocation of taxing rights over large profitable firms wherever they’re located, will enable us to get rid of existing digital levies,” US Treasury Secretary Janet Yellen told journalists in Venice.
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