Italy has called on G20 nations to maintain commitment to the international taxation agreement during discussions in South Africa. Economy Minister Giancarlo Giorgetti warned against unilateral actions, citing potential discouragement of investment due to fiscal uncertainty.
The statement follows U.S. President Donald Trump's declaration that the 2021 global corporate minimum tax deal holds "no force or effect" in the U.S. This move effectively withdraws the U.S. from the agreement negotiated with nearly 140 countries.
Giorgetti suggested simplifying the minimum tax to promote broader implementation. He also addressed digital service taxes on U.S. tech companies, a long-standing trade issue, noting Italy's 3% levy on revenue from internet transactions for large digital firms.