Italy says global minimum tax on multinationals set to fail

ROME: Italy’s Economy Minister Giancarlo Giorgetti said on Wednesday he fears that a plan for a global minimum tax on multinationals is set to fail, adding this was the impression he got from attending G7 and G20 meetings.

Washington and five European countries agreed last month to extend a truce over digital services taxes for six months to buy more time for negotiations on international taxing rights over large corporations.

Italy cares about the deal as Rome this year holds the presidency of the Group of Seven major democracies and in this capacity, it is supposed to play a role in trying to revive the talks.