Italy to Revise Web Tax Policy Amid US Criticisms: U.S. News & World Report

Italy is set to change its web tax in an effort to overcome objections from the United States. The new tax, which is aimed at tech giants such as Google and Facebook, has been a point of contention between the two countries for some time.

The Italian government has proposed a new tax structure that would target digital services provided by multinational companies operating in Italy. Under the new plan, companies with annual revenues of more than 750 million euros will be required to pay a 3% tax on their Italian digital sales.

This move comes after the United States threatened to impose tariffs on Italian products in retaliation for the web tax. The U.S. has argued that the tax unfairly targets American companies and violates international trade rules.

Italy’s Finance Minister, Roberto Gualtieri, has stated that the new tax is necessary to ensure that multinational companies pay their fair share of taxes in Italy. He also emphasized that the tax is not targeted specifically at American companies, but rather at all multinational companies operating in Italy.

The Italian government hopes that the new tax structure will help to alleviate tensions with the United States and pave the way for a more cooperative relationship between the two countries. The proposed changes are expected to be implemented in the near future, pending approval from the Italian parliament.