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Photo: Amazon’s European headquarters in Luxembourg, via dts news agency
Brussels (dts news agency) – Despite internal differences, the EU is aiming for a “relatively high taxation” in international negotiations on a minimum tax for companies. “Of course the matter is complicated, also because we have to differentiate between the nominal and the effective level of taxation,” said EU currency commissioner Paolo Gentiloni the “Handelsblatt” (Wednesday edition) and the French newspaper Les Echos.
“But I think we will not be far from the Americans’ proposal.” So far, the EU has avoided specifying precise information, as member states such as Ireland and Luxembourg have significantly lower tax rates. The USA had proposed a tax rate of 21 percent and thus brought new momentum to the negotiations. Gentiloni thinks it is possible to find a tax consensus this summer.
“We have the opportunity to reach a political agreement among the G20 countries in Venice in July,” he said. The Italian EU Commissioner wants to “closely monitor” the rising inflation rates in the euro zone. However, he sticks to his assessment that the increase is temporary. According to EU forecasts, inflation will rise to 1.7 percent this year, but then weaken again.
For Gentiloni there is no need to panic, but to be more vigilant: “If this prognosis is not confirmed, we have to be prepared.”
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