Reported 6 months ago
Italy's Economy Minister Giancarlo Giorgetti stated that an agreement on a global minimum tax for multinationals will not be finalized by June as planned, with the U.S., India, and China expressing reservations. The tax is primarily targeting U.S.-based digital giants, aiming to reallocate taxing rights on $200 billion of corporate profits. Giorgetti mentioned that the deal will not be ratified by all participating countries, risking the failure of the agreement. Italy seeks negotiations with the U.S. to prevent retaliatory tariffs, while other European countries are encouraged to join in the discussions.
Source: YAHOO