BRUSSELS – Today, ITI, the global voice of the tech sector, released the following statement from president and CEO Dean Garfield urging the European Union Commission to reconsider its proposal for digital taxes.
“We agree with the fundamental thesis of the European Commission: today’s tax systems do not reflect that today’s economy is digital. Unfortunately, the EU’s proposal would exacerbate rather than solve this problem."
Digital technologies have allowed businesses large and small to enter new markets, reach new customers, and hire more workers. Unfortunately, the EU’s digital tax proposal threatens to undermine the progress Europe is making in ensuring that its firms, workers, and citizens can benefit from these technologies. By proposing a tax on digital advertising revenues and departing from established multilateral discussions in the OECD, this proposal harms business certainty in Europe and would chill trade and investment from companies across the globe. We strongly urge the EU to reconsider its approach and are committed to working with it to address these important international tax questions in a deliberate, constructive, and multilateral way.”