With minimal global tax, say goodbye to Italian web tax. Talk about Carnival Maffei

According to Carnival Maffei, an economist at SDA Bocconi, the agreement on a global minimum tax has “political, not economic, meaning.” Then it says: “Italian web tax has been misled”

He said that the agreement reached yesterday by the G7 finance ministers in London on global taxes was a “great day” because “there was talk for the first time about the homogenization of international taxation.” Vittorio Colao, Minister of Technological Innovation and Digital Transition, speaking at the Trento Festival of the Economy. “This is the beginning of a great journey,” he added. With regard to the 15 or 21 percent stake, he explained, “it’s all right, it’s a path that for the first time sees agreement in the common direction of equity in the distribution of tax revenue.” Minister Colau also clarified that the local web tax “will no longer be necessary when the new tax is approved”, which was outlined yesterday at the G7.

a second Carlo Alberto Carnival MaffeiBocconi, SDA Economist, agreed on Minimum corporate tax – “In principle, at the moment,” he asserts — it has “a political sense, not an economic one. It is a return to pluralism, after the season of unilateral tariffs that has characterized the four years.” Donald Trump in the White House. The dialect he set Paolo Gentiloni, the European Commissioner for Economics, on the “policy change of the US administration” that paved the way for an agreement. “without Janet Yellen (US Treasury Secretary, editor) And the commissioner made it clear that it was very difficult frankly to relaunch this, a multilateral push and that is the meaning of this G7 after so many tensions between both sides of the Atlantic and also some tension between us Europeans.

“Waiting for technical details, which is the tributary demon’s preferred area and will require years of negotiations, we can draw three traces,” Carnival Maffei continues, logically with Formiche.net. “The first is that free ride Taxing individual states: This, however, would concern Ireland and Cyprus, not the Cayman Islands. But this will pay the adults Establishment to reorganize its operating headquarters. The second, opposite and symmetrical, is that the excessive tax and predation that some governments want on corporate profits takes a fatal blow. The third is that the Italian-style web tax, applied to sales volume (indeed, a petty protective duty, imposed on end customers) was misleading from an economic point of view, and those who tried to impose it would have to take it back.”

in this meaning, Eugenio Fama, the Nobel Prize in Economics and a reference point for the Chicago School, in an interview with the newspaper printing She identified two problems with the tax that the Seven agreed to. The first is legal: The President of the United States does not have, I believe, the leaders of many other countries involved, the power to enforce such an agreement. It should go to Congress, and I’m not sure it will be easy to find a majority for approval.” The second is economic: “Companies will not pay this tax because as usual they will pass it on to customers.” For this reason, the Italian-origin economist explained that “the implementation details are essential to understanding Whether it can have positive effects on development, or if it risks switching to a depressive measure.”