Italy to press ahead with web tax despite U.S. warning - deputy minister
Reuters
Published Nov 15, 2019 09:41
Italy to press ahead with web tax despite U.S. warning - deputy minister
ROME (Reuters) - Italy intends to go ahead with its plan to introduce a new tax on digital companies, including U.S. tech giants, despite threats of retaliation from Washington, Deputy Economy Minister Antonio Misiani said on Friday.
The levy, due to be introduced from next year, will oblige companies such as Facebook (NASDAQ:FB), Google (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN), to pay a 3% tax on internet transactions, according to a text of the draft budget.
Washington has repeatedly said the levy unfairly targeted U.S. firms. A senior U.S. official said President Donald Trump was ready to threaten retaliation when he met Italian President Sergio Mattarella in Washington last month.
"The current text of the draft budget is confirmed. We are not planning to change it," Misiani said in a conference at the Foreign Press Association in Rome.
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Written By: Reuters
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