ROME: Italy is readying a new tax on digital companies in its 2020 budget, as it seeks alternative revenues that will allow it to scrap a scheduled increase in sales tax, two coalition sources told Reuters on Monday .
The plan is broadly in line with proposals from the Paris-based Organisation for Economic Cooperation , which last week urged governments to redraw rules for taxing global giants. The coalition of the anti-establishment 5-Star Movement and the centre-left Democratic Party has to send the draft budget to the European Commission by Oct 15.Italy and fellow European Union members have long complained about the way Facebook, Google and other web giants collect huge profits in their countries but pay taxes of a few million euros per year at most.
Italy originally set out plans for a web tax in 2018 under the previous coalition of 5-Star and the right-wing League, but that government collapsed in August this year and the levy was never implemented.
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