Following the Group of Seven rich countries’ global tax agreement, technology representatives and lobbyists have openly expressed support for this move, while calling for the increasingly popular taxation of digital services to be abolished.
The agreement was to support a minimum global corporate tax rate of at least 15% to prevent multinationals from avoiding tax by saving profits in low-tax countries,
While the U.S. Treasury Department explains that the deal delved into the “removal of all Digital Services Taxes, and other relevant similar measures, on all companies”, the technology industry wants to eliminate levies such as France’s 3% tax on certain online revenues.
For more information, read the original story in Reuters.