The European Commission has published remarks by Executive Vice-President Valdis Dombrovskis at the informal ECOFIN press conference held 12 September 2020. Although brief, the remarks include the key point that the EU will move ahead with a digital tax proposal if progress is not made at the global level. Regarding tax fairness, the remarks include the following:

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TAX FAIRNESS

As we discussed this morning, we also need to work on tax fairness. This is even more relevant now.

Large digital companies may emerge more profitable from the crisis and with a larger market share, while traditional businesses are bearing the brunt of the recession. We also need global minimum taxation, both in order to secure much needed tax revenues and to ensure that everyone contributes their fair share.

The Commission will present an Action Plan on business taxation for the 21st century this autumn. We will follow up on the work to the reform of the international corporate tax framework, which is currently ongoing in the OECD. We hope for progress at the global level – and if not, we will move ahead with a digital tax proposal in the first half of next year.

A fair corporate tax system will ultimately help ensure all Member States can finance the recovery.