The EU Commissioner designate for economic, Paolo Gentiloni to pose for a photo during a seminar organised by the European Commission, designated officers in the Chateau du Lac hotel in Genval, Belgium, on September 12, 2019 at the latest. REUTERS/Francois Lenoir
MILAN (reuters) – The European Union plans to introduce a tax on services, even in the absence of a global agreement on the so-called ‘web tax’, the Commissioner-designate for Economic Affairs, Paolo Gentiloni was quoted as saying on Monday.
“My first task will be to see whether or not it is possible to create a web of tax at the OECD, and the g-20 level, that is to say, at a global level, because that would be the most effective solution,” Gentiloni, a former Italian prime minister’s office, told the daily La Stampa in an interview.
“The Commission will endeavour to reach an agreement by 2020, but if that’s not possible, I’m on a mission, it will be used for the proposal of a European web of tax … we are not willing to wait,” he added.
Gentiloni also said that he would also be monitoring the European efforts for harmonisation of the corporate tax rate in all member states, and the rate of the block is the current regulation on the taxation of energy products.
He praised the European Central Bank’s monetary policy, adding, however, that it is not going to be enough to counter a slowdown in the European economy.
“We need an economic and fiscal policies that drive growth,” he said.
Reporting by Valentina Za; Editing by Muralikumar Anantharaman