Thursday, October 28

Italy says to remove unilateral digital tax by 2024

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WASHINGTON — Italian Economy Minister Daniele Franco said on Wednesday that Rome will remove its corporate digital tax by 2024 in the light of the minimum tax of 15% that has now been agreed globally.

Speaking after chairing a meeting of Group of 20 finance ministers in Washington, Franco said national digital taxes were always “suboptimal solutions” and he expected other countries would take the same line as Italy in canceling them.

“We expect national unilateral taxes to be removed by 2024,” he told reporters at a news conference.

(Reporting by Gavin Jones)

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