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EU Commission: Notice on “fair taxation of digital economy”. Taxing income for “consistent” taxation

(Brussels) Today, the EU Commission passed a notice that defines the “challenges that the member states are dealing with in the area of the fair taxation of digital economy” and listed some avenues for a “EU legal proposal for income taxation” in this branch of business, to provide a “consistent approach to taxation” as part of the EU Commission’s efforts to complete “the digital single market”. A notice from Brussels explains that the procedure should lead to pass new rules by Spring 2018. The current legislation, designed for traditional economy, cannot “identify businesses that are increasingly based on intangible assets and data”. Too low tax rates and “unilateral measures in the member states to solve the problem” are the issues that must be addressed in a single market, the notice reads. The first goal is to “drive a key reform of international tax rules” to provide a “tighter connection between value creation and the place in which it is taxed”. The EU could become the propeller of this area, within G20 and OECD. Measures proposed by Brussels include a common consolidated corporate tax base (Ccctb), a tax on turnover, and a EU-wide advertising tax. Now, the buck is passed on to the Estonian presidency to bring the EU Council to clear, ambitious conclusions by the end of the year.

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