Francesco Marconi comments on the Digital Tax for Bloomberg

Andersen partner Francesco Marconi, an expert in international taxation, comments on Bloomberg Tax on the latest news on the Digital Tax.

The journalist of the well-known newspaper analyzes the issue of the controversial law on technology companies that soon – precisely on February 16 – will have to make the first payment of the Digital Tax. However, it is not yet clear how the digital tax will be calculated in our country.

In fact, there are no guidelines or implementing regulations for tax managers: it is unclear how to adapt reporting systems, how to make calculations, understand if and how income streams fall under the application of the rule. Obviously, these uncertainties increase the chances of error and the resulting, very high penalties for unpaid or miscalculated amounts.

According to the regulations, should the foreign company fail to pay the Digital Tax, the Italian sister company would be jointly and severally liable. Francesco Marconi, the coordinator of Andersen in Italy’s international tax department, told Bloomberg Tax that tax authorities could grant – as they have done in the past for other laws and as requested also by many tax professionals – a grace period in which penalties are temporarily interrupted. In some situations, in fact, the first year has been considered as an adjustment and the fines deferred.