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Italy to press ahead with web tax despite U.S. warning

Europe Materials 15 November 2019 14:44
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
Italy to press ahead with web tax despite U.S. warning

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, Trend with reference to Reuters reports.

The levy, due to be introduced from next year, will oblige companies such as Facebook, Google and Amazon, 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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