TECHNOLOGY

Italy to press ahead with web tax despite US warning: Deputy Minister

A sign at Facebook headquarters in Menlo Park, California. (File photo: AP)

Italy intends to go ahead with its plan to introduce a new tax on digital companies, including US tech giants, despite threats of retaliation from Washington, Deputy Economy Minister Antonio Misiani said on Friday.

The levy, due to be introduced from next year, will oblige companies such as Facebook, Google and Amazon, to pay a 3 percent tax on internet transactions, according to a text of the draft budget.

Washington has repeatedly said the levy unfairly targeted US firms. A senior US official said President Donald Trump was ready to threaten retaliation when he met Italian President Sergio Mattarella in Washington last month.

“The current text of the draft budget is confirmed. We are not planning to change it,” Misiani said in a conference at the Foreign Press Association in Rome.
 

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Last Update: Friday, 15 November 2019 KSA 12:53 - GMT 09:53
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