Economy / Foreign relations

Italy to introduce “Digital Tax”

In his last TV appearance, the Italian Prime Minister Matteo Renzi abruptly announced that the next Budget Law, to be passed before the end of the year, will introduce a “Digital Tax”.

The new tax, the specifics of which were not detailed, will target ICT multinationals allegedly exploiting loopholes in the EU law to avoid paying taxes to the EU Member States.

Previously Mr Renzi had rejected similar proposals in favor of a EU-wide solution. However, he stated that the European Institutions, despite the Italian solicitations, proved unable to adopt any meaningful measure.

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