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NGM: EU finance ministers discussed tax evasion and Google tax          Finance 

NGM: EU finance ministers discussed tax evasion and Google tax       

Tax evasion and Google tax were discussed by EU finance ministers who agree in their Luxembourg meeting that digital companies should also be taxed, said the Ministry of National Economy (NGM) with MTI on Tuesday.

Hungary is at the forefront of the fight against the black economy, which is why it protects the system of effluent filtration, the evacuation system, said Mihály Varga, according to the Ministry’s announcement after Ecofin’s Luxembourg meeting. The Minister of National Economy again drew attention to the Hungarian proposal on the Google Tax which, according to his words, is not only suitable for the taxation of digital companies but also for the payment of the tax due.
According to the European Commission’s study, EU budgets amounted to EUR 152 billion (more than 47,000 billion) in 2015, according to Michael Varga. As you have said, much of this amount can be overwhelmed by the commission’s now-announced VAT version, the main purpose of which is to curb fraudulent tax evasion. In the light of all of this, he called it controversial that the European Commission had been saying a few days ago about the Hungarian electronic freight traffic monitoring system (ecater) that it violated EU law, which has already been acknowledged by Brussels as a major player in its economic whitening.
Mihály Varga said that the objectives set, such as the VAT system to support and simplify the VAT system against fraud, are supported by Hungary. At present, experts from the Department of Economy are looking at how the Commission proposal meets these goals. It can already be stated that the EU proposal can not replace the two Hungarian online systems, which allowed the tax in Hungary to fall by 7.2 percentage points in two years, said the head of the bank. Travel scams can be filtered out by the echo system, just as revenue collectables are commercially used by online cash registers. By using the Commission’s VAT formula, however, data from other Member States of the Union can be of great help in the tax burden analysis.
The economic and finance ministers agree that digital companies should also be taxed – Mihály Varga, the other important topic of the Ecofin meeting, came out. However, it was interesting to note that several proposals would tax large Internet companies on the basis of their revenue, while a similar Hungarian regulation previously was considered incompatible with EU law by the European Commission.
At the Ecofin meeting, finance ministers thanked their departing German counterpart. Mihály Varga reminded him, Wolfgang Schauble is one of the few German politicians who have, in the past, understood the problems of Hungary and the countries of Central Europe. As a believer of the united Europe, we can count on its future responsible position – added the minister.

Source: MTI / Picture: /

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