Spain agrees with the US that does not punish you with new tariffs for the Google rate

Spain and four other European countries have reached an agreement with the USA to adapt their digital taxes to the OECD Global Compact. Austria, France, Italy

Spain agrees with the US that does not punish you with new tariffs for the Google rate

Spain and four other European countries have reached an agreement with the USA to adapt their digital taxes to the OECD Global Compact. Austria, France, Italy, United Kingdom, In addition to Spain, will be able to maintain their respective liens without fear of commercial punishment from the North American territory, where the vast majority of digital giants, such as Google, Facebook, Apple, Microsoft, Amazon or Netflix.

The pioneer imposed on certain digital services (IDSD), which has already begun to settle for the Tax Agency and known to the Google Rate Nickname, will thus be maintained without fear of reprisals until the entry into force of the so-called pillar 1 of the solution reached For the OECD and G-20, which should never occur beyond December 31, 2023.

In front of this tax, the US had announced the imposition of the additional 25% of tariffs to Spanish products that affected the textile sector, footwear or indoor glassware, although a six-month moratorium was established that ended next November.

In the "Transitory Period" ranging from January 1, 2022 until the end of 2023, "US is committed to not initiating any commercial measure against these European countries, the department that leads María Jesús Montero has been exposed. The Administration prior to President Joe Biden, the one led by Donald Trump, had been especially belligerent in this regard.

Thanks to this understanding, it would not be evaluated up to 2024 if the payment made by the affected multinationals has been higher than that it would have corresponded in case of applying internationally agreed pillar. "If the payment made greater, a tax credit will be generated by said amount," Hacienda has exposed.

"It is a very positive agreement that provides legal security and certainty to our productive tissue by ensuring that there will be no trade barriers to the entry of Spanish products into the US market," said Montero: "That risk of more tariffs for fundamental sectors From our economy as the textile or footwear industry, among others, disappears thanks to the discrete but effective work of the government and, also, highlights the good tuning with the Biden Administration. " In addition, the Minister recalls that "with this agreement Spain fulfills its commitment that it would adapt the digital tax to the international consensus within the framework of the OECD and the G20" -.

The collection by the controversial Google TASA has been limited in the first half of its inaugural year in Spain only 92 million euros, remotely far from the 968 million stated to raise Hacienda in 2021. The IDSD, known colloquially as the Google rate, Gravel in the country to companies that have global income that exceed 750 million euros per year, and within those companies that cover a business figure of more than 3 million in Spain.

The tax is aimed at online advertising, intermediation and data sales services and, although conversations have been developed in the international arena to start it, some countries such as Spain have opted by preparing their own rate. The measure has come up with the US administration, but also with the digital enterprises, which warn that a tax of this type, especially if it is unilateral, has an impact on the prices offered by their customers.

Updated Date: 21 October 2021, 21:28

You need to login to comment.

Please register or login.

RELATED NEWS