British Chancellor of the Exchequer Sajid Javid attends an European Union finance ministers meeting in Brussels, Belgium January 21, 2020. REUTERS/Johanna Geron
Javid described Britain’s tax, seen as targeting especially US giants such as Amazon, Google and Facebook, as “proportionate” and “temporary”. Mnuchin has specified Britain and Italy, which has already introduced its digital levy on tech companies seen as paying too little tax, like nations at risk of US retaliation.Presidents Emmanuel Macron and Donald Trump have agreed to extend negotiations on how to proceed until the end of the year.
Gurria added that in the absence of a globally agreed tax, there would be a “cacophony and a mess” with “tensions rising all over the place”.
Source: News Formal (newsformal.com)
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