Brussels, BELGIUM — G20 Finance Ministers today met and reconfirmed their commitment to “reaching a global and consensus-based solution … by mid-2021” on global tax reform.
Today, CCIA filed comments in response to the European Commission’s consultation on its digital levy proposal which is expected in June 2021. The comments confirm that “CCIA strongly supports efforts at the international level (G20/OECD) to reform the international corporate tax framework. This remains the optimal forum to address tax challenges linked to the digitalisation of the economy. EU Member States should prioritise these global talks and refrain from enacting unilateral measures that risk triggering tax and trade disputes that derail multilateral efforts. Moreover, digital taxes based on gross turnover are discriminatory, lead to double taxation and increase the cost of doing business through digital channels.”
The following can be attributed to CCIA Vice President and Head of office Christian Borggreen:
“We are encouraged by the G20’s commitment to reach consensus on ambitious global tax reform this year. An updated international tax system can provide legal certainty for all and help spur economic recovery.”
“We are concerned that an EU digital levy risks derailing global tax reform and triggering conflicts. EU leaders should focus on achieving a durable, ambitious international tax reform.”