The European Commission has welcomed the historic global agreement on digital economy taxation as endorsed by the G20 finance ministers.
European Commissioner for Economy Paolo Gentiloni, who is taking part in the discussions in Venice today, said: “The G20 has today endorsed the unprecedented global agreement on corporate tax reform reached last week and now supported by 132 jurisdictions. A bold step has been taken, one that few would have thought possible just a few months ago.”
“This is a victory for tax fairness, for social justice and for the multilateral system. But our work is not done. We have until October to finalize this agreement. I am optimistic that we will be able in that time also to reach a consensus among all European Union Member States on this crucial issue.”