FUKUOKA, Japan, June 8. /TASS/. The US is concerned about the decision of France and Britain to develop its own legislation governing the taxation of digital companies, however, generally agree with the idea of drawing up international agreements on this matter. This was stated on Saturday by the Minister of Finance of the USA Stephen Mnuchin, speaking at a seminar in Fukuoka, where the meeting of Ministers of Finance and heads of Central Banks “the twenty”.

“The US is concerned about two new taxes which I propose to introduce France and the UK. However, I would like to give them a positive rating for such a proposal. They have created for us a precedent that we were dealing with this issue. And we have an agreement in this regard”, he said.

According to Mnuchin, the necessity of introducing such a tax generally is ripe, as the situation in the interaction of tax systems and the digital economy has changed dramatically in recent years. “Now we have to extend this agreement [within the framework of “twenty”], and then already to deal with questions concerning how to turn this into a concrete agreement,” he added Mnuchin.

As expected, in the communiqué following the meeting of the financial “twenty” is expected to include a proposal to intensify the development of new rules for the taxation of multinational digital giants, such as Amazon, Apple, Facebook and Google. It is considered that in relation to these and other digital corporations taxation should be based on what countries they are the main profit not from where geographically located their head offices.

The most active supporters of the introduction of such digital tax are France and Britain, which have already started working on its own legislation on this matter. However, the French Finance Minister Bruno Le Mayor, who also is visiting Fukuoka, said that Paris could refuse such ideas in the case of the adoption of common international rules.

Read more •••

LEAVE A REPLY

Please enter your comment!
Please enter your name here